Now that the XRP token is primed for a parabolic bull run. Crossing the 100-day moving average sealed the deal die XRP. The token now has what it takes to move across the next resistance levels at $0.3255 and $0.3500.
These two levels are key for marking a more extensive bull rally for Ripple XRP. Before XRP got to its current level, it traded below the 23.6% Fib retracement level of the last move from $0.2299 to $0.3074. Hitting the $0.2950 level was what gave the Ripple XRP token the momentum it needed to reach its current levels.
The next few days of trading are crucial for XRP since they will help us determine if the bull rally is sustainable. There are two possible price actions for the token. On the one hand, XRP might surge as high as $0.4000 in the next two days. On the other hand, the token must remain above the $0.2920 level if it is to prevent falling back to the support at $0.2850 level near-term.
The MACD and relative strength index for XRP are bullish and it is outperforming Bitcoin BTC at this time. Bitcoin has finally managed to move across the $12k level after facing key resistances for weeks.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple XRP Surpasses 100-day Weekly Simple Moving Average for the First in 2 Years
- Ripple XRP Surges Above the $0.3100 Level Outperforming Bitcoin BTC
Ripple XRP has been surging since the beginning of trading today. The token has managed to move above the resistance at $0.3000 and is going to keep moving higher against the USD and Bitcoin BTC near-term. Thanks to the support at $0.2750 that has held the XRP token in place and prevented lower lows near-term, XRP has finally crossed the $0.3100 level for the first time in weeks. For the first time since 2018, Ripple XRP has crossed the 100-weekly simple moving average for the first time in two years.
XRP Price Prediction 2020 – XRP Surges Above the $0.3000 Moving Higher Near-term
The current uptrend for XRP started on the 13th of August but there has been key resistance at the $0.2850 and $0.2920 levels. While XRP moved above this level several times within the week, it finally took a major surge forward-moving above these two levels and testing the resistance at $0.31434.
At the time of writing, the price of the XRP token was $0.317399. This means that it is up by 6.86% against the USD and up by 5.87% against Bitcoin BTC. The trading volume over a 24 hour period is $2,379,285,231 and the market capitalization is $14,257,155,913.