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XRP has seen a strong 3.47% price hike today, making it the strongest performing coin out of the top 5. The recent price surge has seen XRP climb to the $0.2643 as XRPUSD breaks above a descending trend line to, hopefully, start a move higher back toward $0.30.
XRP remains the third-largest cryptocurrency with an $11.32 billion market cap.
Looking at the XRP/USD 1-Day Chart:
- Since our previous XRP/USD analysis, XRP has managed to find support at the $0.2518 level. The recent price hike has allowed XRP to break above a 2-month-old descending trend line as we wait for the daily close to confirm the breakout.
- From above: The nearest level of resistance lies at $0.2687. Above this, resistance is found at $0.2747, $0.2811, $0.2890, and $0.30. If the buyers push the market above $0.30, resistance can be found at $3.08 (100-days EMA), $0.3177, and $0.33.50 (200-days EMA).
- From below: The nearest levels of support lie at $0.26 and $0.2584. Beneath this, support can be found at $0.2518, $0.2461, $0.24, and $0.2345.
- The trading volume still remains beneath the average level.
- The RSI has recently climbed above the 50 level to show that the bulls are in control of the market momentum. If the RSI can continue to rise, we can expect XRPUSD to head further higher.
Looking at the XRP/BTC 1-Day Chart:
- Against Bitcoin, XRP continued to grind lower until rebounding at support at the 2415 SAT level. The recent surge higher has now caused XRP to meet the current resistance at 2570 SAT.
- From above: If the bulls can break above 2570 SAT, higher resistance lies at 2613 SAT, 2640 SAT, 2710 SAT, and 2800 SAT. If the buyers continue higher, resistance can be expected at 2846 SAT, 2900 SAT, 3000 SAT, and 3325 SAT (100-days EMA).
- From below: The nearest level of support lies at 2500 SAT. Beneath this, support is expected at 2455 SAT, 2415 SAT, and 2350 SAT. If the selling continues, support can be found at 2286 SAT, 2224 SAT, 2211 SAT, and 2200 SAT.
- The trading volume has seen a significant increase over the past couple of trading days.
- Likewise, the RSI has broken above the 50 level to show the bulls are in control over the market momentum.
The post Ripple (XRP) Price Analysis – XRP Sees Strongest Performance Today – Are We Heading Back Toward $0.30? appeared first on CryptoPotato.
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