Ripple has finally left its long consolidation and momentum is building up behind the bulls.
Key Support Levels: $0.53
Key resistance levels: $0.60, $0.68
XRP has made a higher high after breaking above the resistance at 53 cents which has now turned into support. This is a significant change in the structure of the market, which has made sellers disappear. However, the bears may return to the key resistance levels found at 60 and 68 cents.
Trade volume: Buying volume exploded, and this momentum may drive the price much higher.
RSI: The daily RSI is approaching the overbought zone at 70 points. This is a bullish sign.
MACD: The daily MACD is expanding upwards and the histogram is making higher highs. This shows that the bulls are in full control of the price.
Inclination
The bias for XRP is bullish.
Short-term prediction for the price of XRP
With this breakout, XRP is on its way to a higher valuation. The key resistance levels of 60 and 68 cents may not keep the price down for long, especially if this momentum holds.
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cryptocurrency charts by TradingView.
