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The week marks the first prolonged period of a bullish surge since the bearish conditions surpassed the market in mid-November.
The bullish conditions have led XRP to increase beyond a range traded in the past week between $ 0.29 and $ 0.31. The XRP continued its rise to overcome resistance at $ 0.35 and is now approaching the $ 0.40 point.
The XRP reached $ 0.4 point both today and yesterday but failed to break the level on both occasions.
From $ 0.39 to $ 0.40 was a significant area of commercial activity in the last two months as support and resistance on numerous occasions.
The XRP is back from today's test and is currently trading around $ 0.37.
The momentum remains on the side of the buyers, with the RSI and the MACD increasing on the upside.
The hourly chart provides a closer look at the recent XRP pricing action.
Price action approached the area from $ 0.39 to $ 0.4 both today and yesterday, but reversed each time. $ 0.35 entered support after yesterday's reversal.
The price has fallen below this important level, but is back above every time.
Key Takeaways:
- The XRP continues to rise but meets resistance at $ 0.4.
- The XRP has approached $ 0.4 twice, but has reversed each time.
- The momentum remains on the side of the buyers with the MACD and the RSI increasing.
- $ 0.35 came into play as support after yesterday's reversal.
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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