XRP Might Target $0.50 If It Continues To Trade Above This Level

0 6

XRP has been trading on a bullish streak over the last few days. In the past week, the altcoin appreciated by close to 18%. On the daily chart, however, XRP slipped nearly 4%. Despite the fall on the daily chart, the altcoin was moving with bullish momentum.

The technical outlook of XRP has also sided with the bulls as buying strength has considerably recovered. Demand for the altcoin also noted a positive change. Accumulation also went up the chart as demand registered an increase.

Buyers’ confidence also rose as XRP managed to break past a few important resistance marks. XRP must remain above its immediate support level for the price to keep gaining strength.

With Bitcoin breaking past the $28,500 level, other altcoins will attempt to break past their immediate price ceilings. Currently, XRP is standing at a crucial resistance mark; a fall below this level might bring the bears back for a short period.

XRP Price Analysis: One-Day Chart

XRP

knife

The altcoin was trading at $0.42 at the time of writing. XRP breached two very vital supports over the past week. The $0.39 level had acted as a stiff resistance level, which has now been flipped into a support line for the altcoin. Moving from the current price level will drag XRP to $0.40 and below $0.39.

The overhead price ceiling for the altcoin stood at $0.44; breaching that level will help the altcoin reach $0.46 and eventually $0.50.

The altcoin had reached $0.44 in recent trading sessions, but the bulls could not break through. For XRP to target $0.50, it must breach $0.44 and trade above that level for many trading sessions.

Technical Analysis

XRP

The altcoin was overbought over the past week; however, at press time, it was not. Buying strength remained positive, though.

The Relative Strength Index stood slightly below 60, indicating buyers still controlled the asset. Similarly, with an increase in demand, XRP moved above the 20-Simple Moving Average line, which also depicted that buyers were driving the price momentum in the market.

XRP

Other technical indicators also depicted that bulls were taking over the market. The Moving Average Convergence Divergence displays the price momentum and reversals in the trend. The indicator turned positive and displayed green histograms tied to buy signals for the altcoin.

Parabolic SAR indicates price direction; the indicator was positive as dotted lines were formed underneath the candlesticks. These dotted lines suggested that the price was on an uptrend at press time.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 42,332.34
ethereum
Ethereum (ETH) $ 2,249.45
tether
Tether (USDT) $ 0.99979
bnb
BNB (BNB) $ 240.29
xrp
XRP (XRP) $ 0.626441
solana
Solana (SOL) $ 69.62
usd-coin
USDC (USDC) $ 0.999847
staked-ether
Lido Staked Ether (STETH) $ 2,249.43
cardano
Cardano (ADA) $ 0.554192
dogecoin
Dogecoin (DOGE) $ 0.098638
avalanche-2
Avalanche (AVAX) $ 36.46
tron
TRON (TRX) $ 0.105607
polkadot
Polkadot (DOT) $ 6.78
chainlink
Chainlink (LINK) $ 15.04
matic-network
Polygon (MATIC) $ 0.870939
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 42,314.34
shiba-inu
Shiba Inu (SHIB) $ 0.00001
litecoin
Litecoin (LTC) $ 73.49
dai
Dai (DAI) $ 1.00
uniswap
Uniswap (UNI) $ 6.28
bitcoin-cash
Bitcoin Cash (BCH) $ 235.42
stellar
Stellar (XLM) $ 0.126648
leo-token
LEO Token (LEO) $ 3.82
okb
OKB (OKB) $ 58.73
monero
Monero (XMR) $ 171.89
cosmos
Cosmos Hub (ATOM) $ 10.07
ethereum-classic
Ethereum Classic (ETC) $ 20.32
crypto-com-chain
Cronos (CRO) $ 0.102517
kaspa
Kaspa (KAS) $ 0.123495
true-usd
TrueUSD (TUSD) $ 0.997838
immutable-x
Immutable (IMX) $ 2.06
internet-computer
Internet Computer (ICP) $ 5.43
hedera-hashgraph
Hedera (HBAR) $ 0.071865
near
NEAR Protocol (NEAR) $ 2.36
filecoin
Filecoin (FIL) $ 4.72
aptos
Aptos (APT) $ 7.91
optimism
Optimism (OP) $ 2.36
lido-dao
Lido DAO (LDO) $ 2.33
vechain
VeChain (VET) $ 0.027707
injective-protocol
Injective (INJ) $ 22.88
bittensor
Bittensor (TAO) $ 319.37
mantle
Mantle (MNT) $ 0.594548
thorchain
THORChain (RUNE) $ 5.97
elrond-erd-2
MultiversX (EGLD) $ 64.67
quant-network
Quant (QNT) $ 111.72
algorand
Algorand (ALGO) $ 0.19111
havven
Synthetix Network (SNX) $ 4.66
the-graph
The Graph (GRT) $ 0.163062
binance-usd
BUSD (BUSD) $ 1.00
celestia
Celestia (TIA) $ 10.16
arbitrum
Arbitrum (ARB) $ 1.12
render-token
Render (RNDR) $ 3.82
aave
Aave (AAVE) $ 91.32
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,460.79
bittorrent
BitTorrent (BTT) $ 0.000001
blockstack
Stacks (STX) $ 0.916715
maker
Maker (MKR) $ 1,355.74
wemix-token
WEMIX (WEMIX) $ 3.58
flow
Flow (FLOW) $ 0.781421
the-sandbox
The Sandbox (SAND) $ 0.517494
first-digital-usd
First Digital USD (FDUSD) $ 1.00
terra-luna
Terra Luna Classic (LUNC) $ 0.000183
theta-token
Theta Network (THETA) $ 1.06
fantom
Fantom (FTM) $ 0.372775
ordinals
ORDI (ORDI) $ 48.11
bitcoin-sv
Bitcoin SV (BSV) $ 49.70
axie-infinity
Axie Infinity (AXS) $ 7.31
kucoin-shares
KuCoin (KCS) $ 9.93
gala
GALA (GALA) $ 0.03198
decentraland
Decentraland (MANA) $ 0.497861
eos
EOS (EOS) $ 0.783355
neo
NEO (NEO) $ 12.03
beam-2
Beam (BEAM) $ 0.01817
mina-protocol
Mina Protocol (MINA) $ 0.825942
iota
IOTA (IOTA) $ 0.272957
whitebit
WhiteBIT Coin (WBT) $ 5.67
klay-token
Klaytn (KLAY) $ 0.247863
tezos
Tezos (XTZ) $ 0.896159
kava
Kava (KAVA) $ 0.777558
bonk
Bonk (BONK) $ 0.000012
frax-share
Frax Share (FXS) $ 9.51
ecash
eCash (XEC) $ 0.000037
usdd
USDD (USDD) $ 0.985995
bitget-token
Bitget Token (BGB) $ 0.494366
helium
Helium (HNT) $ 4.76
sui
Sui (SUI) $ 0.657579
frax-ether
Frax Ether (FRXETH) $ 2,245.50
cheelee
Cheelee (CHEEL) $ 12.51
xdce-crowd-sale
XDC Network (XDC) $ 0.048314
tokenize-xchange
Tokenize Xchange (TKX) $ 8.29
chiliz
Chiliz (CHZ) $ 0.085801
curve-dao-token
Curve DAO (CRV) $ 0.698755
frax
Frax (FRAX) $ 0.998566
pyth-network
Pyth Network (PYTH) $ 0.423049
conflux-token
Conflux (CFX) $ 0.178549
pancakeswap-token
PancakeSwap (CAKE) $ 2.43
illuvium
Illuvium (ILV) $ 102.31
gatechain-token
Gate (GT) $ 4.57
the-open-network
Toncoin (TON) $ 2.24
apecoin
ApeCoin (APE) $ 1.67