Ripple Price Analysis: XRP Skyrockets 10% in a Day, $1 Imminent?

Key Support levels: $0.89

Key Resistance level: $1

The bullish signs discussed in our last XPR analysis proved correct, and XRP rallied. In doing so, the cryptocurrency broke the resistance at $0.89. The price is currently taking a pause as it looks ready to test the resistance at $1. The momentum and volume on this last move give hope for a sustained recovery. However, breaking above $1 would definitely take some strength.

Chart by TradingView

Technical Indicators

Trading Volume: Good volume during the break above $0.89 as the price rallied without looking back. The bulls have the upper hand right now.

RSI: The daily RSI increased as well and topped at 56 points. To sustain the bullish bias, the RSI should do a higher high in the near future. Failure to do so would put the current rally in question.

MACD: The daily MACD exploded higher, and the momentum favors continuation in this price action which should put pressure on the $1 resistance. MACD remains bullish, and there are no signs of weakness right now.

Chart by TradingView


The current XRP bias is bullish. It is important to watch the price action at $1 as that is a critical level to break in order for it to sustain this momentum.

Short-Term Prediction for XRP Price

XRP capitalized on a favorable market where both ETH and BTC broke their key resistance levels and thus, t rallied above $0.89. However, the resistance at $1 is much more significant, and it will be harder to crack.

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img

You might also like...