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- The XRP price again reached the critical resistance barrier of $ 0.26 and was rejected.
- The price is now bounded between the 50-SMA and 100-SMA on the daily chart.
XRP established a critical resistance level at 0.26, tested on eight different occasions from September 4th to November 7th. The latest attempt managed to push the price of XRP towards $ 0.267 before rapidly declining to $ 0.244 on the same day.
The XRP bulls must break out of $ 0.26 to reach $ 0.30
The critical resistance barrier at $ 0.26 now coincides with the 100-SMA on the daily chart, adding even more strength to the level. The current price of XRP at $ 0.25 has rebounded from the daily 50-SMA to $ 0.245.
XRP / USD daily chart
The price is contained between 50-SMA and 100-SMA. A breakout above $ 0.26 would be significant; however, the digital asset must also close above this point to target $ 0.30 as an initial price.
Bears, on the other hand, look to the 50-SMA as the closest support level. The November 7 rejection from the crucial resistance level at $ 0.26 is a clear and robust bearish sign considering all the previous rejections.
1 hour XRP / USD chart
On the hourly chart, the price of XRP faces a strong resistance level at $ 0.252, the 50-SMA. The digital asset has established a downtrend and is seeing a breakdown below the 200-SMA at $ 0.245, which would push the price of XRP towards $ 0.237.
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