Analysis of Ripple [XRP]: Bulls Are Active Bit By Bit

If Ripple (XRP) manages to overcome the resistance at $0.62, one can expect the advance to $0.65, but otherwise it can roll back up to $0.58.

Mid-Term Trend

 

The main resistance levels are $0.75, $0.70, $0.65, support – $0.45, $0.50, $0.55.

Yesterday, Ripple managed to break through the resistance at $0.60, after which the resistance of the downward trend line was broken, which signals a significant weakening of the bear’s position. If the course overcomes the obstacle at $0.62, you can expect the XRP rate to rise to $0.65. At the time of writing, the Crypto currency is traded at a price of $0.61. It helps in this case also that the moving average for 20 days went up with a neutral slope of the longer-term moving average, for 50 days.

During the week, trading was conducted in the range between $0.65 and $0.55, the Ripple rate then rose above $0.60, then fell back. However, now there is a good reserve for the rise to $0.65 (subject to overcoming the resistance at $0.62). However, Ripple’s upward movement may run into an obstacle, as the relative strength index (RSI) is on the overbought territory.

Short-Term Trend

 

The daily chart shows that the movement of the Ripple rate is in the range from $0.61 to $0.58. In any case, if the fluctuations take place for a considerable time within a limited space, the breakthrough becomes more and more probable, and ultimately inevitable. The only question is which side.