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XRP price rose 7%. Are you ready to test the next resistance?

XRP’s price has surged 7% over the past 24 hours, adding to the bullish technical outlook for XRP. XRP’s price hasn’t performed very well over the past week, but the recent price spike has made up for the weekly losses.

Currently, XRP has lost only 2% of its market value in the last week.

XRP has managed to display positive sentiment on the daily charts even as most altcoins teetered under the bearish influence.Buyers seem to have gained confidence in the asset.

The technical outlook has also turned into a bullish signal at the time of writing. After strong sells over the past few weeks, XRP is currently seeing strong buys.

Bitcoin price volatility still influences XRP price volatility.

At current price levels, XRP is trading 89% below its all-time high of $3.40. The market capitalization of cryptocurrencies in the world today is $1 trillion. 0.1% Negative change in the last 24 hours.

XRP Price Analysis: 1-Day Chart

XRP has priced at $0.35 on the 1-day chart. Source: XRPUSD on TradingView

The altcoin was trading at $0.35 at the time of writing. XRP He Awaits Tough Resistance at $0.38. Because altcoins have struggled at that price level for quite some time.

If XRP rises above the aforementioned resistance, the altcoin could return to the $0.44 levels, while the coin’s support was at $0.33.

At the moment, the XRP price is trading pretty close to that level. The amount of XRP traded in the last trading session has decreased. This may indicate that the number of buyers may have decreased at the time of writing.

technical analysis

XRP price
XRP Shows Positive Buying Strength On 1-Day Chart | Source: TradingView’s XRPUSD

At the time of writing, buyers appear to have contributed to XRP’s price increase. Technical indicators also showed that buying strength helped the altcoin recover.

The relative strength index was over half. This means that buyers have taken over the price action in the market.

However, there was a slight drop in the RSI. This could mean that the number of existing buyers has decreased.

XRP’s price is also peeking out from the 20-SMA line, indicating that there is demand for the coin and buyers are driving price momentum in the market.

XRP price
XRP Registered Buy Signal on 1-day chart | Source: XRPUSD on TradingView

Buyers acted on buy signals flashed by XRP on the daily chart as seen in the indicator.

The moving average convergence divergence has gone through a bullish crossover to show a green signal bar which is a buy signal for XRP.

MACD shows the price momentum and direction of an asset. The Stochastic RSI also reads market momentum. The indicator appeared above the center line, meaning the asset was on an upward trend.

XRP price rose 7%. Are you ready to test the next resistance?

Source link XRP price rose 7%. Are you ready to test the next resistance?

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