Home / Ripple / Ripple's XRP meets resistance at $ 0.40 after Bullish Surge

Ripple's XRP meets resistance at $ 0.40 after Bullish Surge

Daily XRP chart – Source: Tradingview.com

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.

XRP time chart – Source: Tradingview.com

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.
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