The XRP token is moved below the initial support at the $0.258 level this morning. The next key resistance for the XRP token is at the $0.2900 level. Rise above this level will be hard but it will make things better for the XRP token and confirm a full-on bullish momentum.
On the other hand, if the bearish pressure continues to increase, the price of XRP might fall back to the support at $0.2400. Lower lows from this level will take the token to the next support at $0.23 and eventually to the support at $0.22.
The technical indicators for XRP are promising mid and long-term. The MACD just moved from the bearish level to the bullish territory in an epic crossover. This shows that the XRP token will most likely move higher safe for some bearish pullbacks. Just like the MACD, the relative strength index has also moved to the bullish territory. Keep a close eye on the price of Bitcoin BTC if you want to know what direction XRP would take.
Right now, the price of Bitcoin BTC is $11,373.76. It is up by 0.73% against the USD. The trading volume over a 24 hour period is $21,243,070,664 and a market capitalization of $210,573,934,584. Bitcoin’s bullish recovery has given the rest of the cryptocurrency market a much-needed spike. In the next few trading sessions, we will know whether the XRP token will make significant progress.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- XRP has Finally Found Some Stability Above the $0.2500 Level
- Analyst Predicts Higher Highs for XRP in October
Things have been good for XRP over the last few days as the token moved higher and higher against the USD finally crossing the resistance at $0.2500 after weeks of bearish tressure. The recent rally of the price of XRP came around the same time as the rise of the price of Bitcoin BTC.
While XRP didn’t rise at the same pace as Bitcoin, it managed to break a longstanding resistance and that counts for something. Bitcoin BTC moved above the $11k level.
At the time of writing, the price of the XRP token was $0.2500. it was up by 1.4% against the USD with a market capitalization of over $11 billion and a trading volume of over $2.1 billion. The token still has a significant struggle between the bulls and the bears but some analysts are certain that things will change soon. The descending channel shows that the token is coming close to a bullish breakout. The tokens piggybacking on Bitcoin’s trend.
