The Ripple (XRP) is currently pushing higher with 8.03% gains as the coin climbs above the $0.55 level.
XRP/USD Market
Key Levels:
Resistance levels: $0.62, $0.64, $0.66
Support levels: $0.47, $0.45, $0.43
XRP/USD is at a high rate of $0.58 when it is written, since the price is higher than the upper channel. A couple weeks ago, Ripple traded sideways, but today’s higher push allows XRP/USD to reach their daily peak. This bounce over the moving averages of 9 and 21 days indicates that buyers now control market movement.
What’s next to XRP Price?
If the Ripple Bulls are to keep up their new momentum, they must keep the price above the channel and convert the moving averages for both 9 days and 21 days into support levels and continue to trad until they are totally over the channel.But a bullish breakup over the barrier might lead to a Ripple price of $0.62, $0.64, $0.66 and $0.66 as the RSI (14) crosses the 60-niveau.
Furthermore, after the daily high of $0.58, XRP/USD trading costs $0.55. That is to say, a fall below $0.50 may lead to a downward spiral of Ripple and a fall of $0.48. On the other hand, local support can be established at approximately $0.47. The sale may be extended to $0.45 and $0.43 respectively in critical supports when broken down.
The price for Ripple has gradually increased within the channel compared to Bitcoin.The price starts to rise slowly and is trading around 1038 SAT. The price of the Ripple is now in the downward channel as traders are waiting for the bulls to, I hope, hold the price above the moving averages of 9 days and 21 days.
In addition, traders may expect initial resistance at 1 200 SAT if the bulls break above the upper edge of the channel. Higher resistance lies above and beyond at 1300 SAT. On the downside, traders could expect support at 800 SAT and below if they push the market below the moving averages. In the meantime the RSI (14) technical indicator crosses the 60-level and may be upward.
