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- XRP / USD remains poised for a big technical breakout.
- Coin No. 3 fights the resistance of the descending trend line on the 12H chart.
- Acceptance above the key Fibonacci 61.8% hurdle is critical to reaching the $ 1 threshold.
Ripple (XRP / USD) sellers are back on Sunday as the recent recovery from sub $ 0.50 levels appears to be losing strength.
XRP / USD: Technical configuration favors the bulls
However, from a technical standpoint, the bulls appear to have taken a pause before the bullish reversal picks up the pace.
XRP / USD: 12 hour chart
Looking at the 12-hour chart, Ripple continues to face strong offers at the one-week downtrend line resistance, now at $ 0.6262.
Closing the candle above that level could trigger a new breakout, with the bullish relative strength index (RSI) favoring the move higher. Although next buy interest may weaken to $ 0.6576, which is the critical 61.8% Fibonacci retracement resistance of the pullback from the highest level since May 2018 reached at $ 0.7842 on Tuesday.
Acceptance above the latter is key to boosting the XRP / USD trip towards the $ 1 mark. Alternatively, the bullish 21 simple moving average (SMA) at $ 0.5226 is the level to beat. for the bears. The next major downside target awaits at the 50 SMA of $ 0.3762.
All in all, the upside looks more convincing in the coming week.
XRP / USD: additional tiers to consider
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