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The price of XRP has become the bright star of the cryptocurrency market with a sharp increase over the last two days, increasing its weekly growth of 21%. This provided the currency with the momentum needed to exit the tightly defined trading model that it exhibited in the last 2 weeks.
1 hour:
The short-term outlook for XRP shows an uptrend from $ 0.452 to $ 0.554, accompanied by a move from $ 0.464 to $ 0.528. The hike broke the resistance at $ 0.521, turning it into a support line for its current run.
A support line can be seen at $ 0.435, with a resistance at $ 0.554. There is also a downward trend, as seen by the $ 0.554 – $ 0.550 – $ 0.533 price retracement.
The RSI shows that there is good buying pressure in the market, as seen by the movement of the index in a general direction towards the top.
The Relative vigor index demonstrates a bullish crossover, repeating a pattern and indicating a further upward movement in the coin.
The Parabolic SAR the indicator is flashing a bearish signal.
1 day:
An uptrend is visible from the low of the price from $ 0.27 to $ 0.452, with a long-term downtrend since June leading from $ 0.688 to $ 0.579 to $ 0.550. Supports are seen at $ 0.271 and $ 0.374, with resistors set at $ 0.579 and $ 0.687.
The MACD is showing a bullish crossover movement, suggesting greater momentum in the price.
The Aroon indicator shows that the downward trend has reversed, with the uptrend that begins to see a slight decline.
The Awesome Oscillator it is also bullish, seen from the occurrence of continuous green lines.
Conclusion:
The price of XRP seems ready for further upward movements and could see long-term resistance at $ 0.687 in the coming weeks. However, the next short bullish break should find resistance to $ 0.544 and $ 0.579 marks.
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