Ripple has finally left its long consolidation, and momentum is building up behind bulls.
Key Support levels: $0.53
Key Resistance levels: $0.60, $0.68
XRP has made a higher high after breaking above the 53 cents resistance that has now turned into support. This is a significant change in the market structure, which has made sellers disappear. Nevertheless, the bears may return at the key resistance levels found at 60 and 68 cents.
Trading Volume: The buying volume exploded, and this momentum may carry the price much higher.
RSI: The daily RSI is approaching the overbought area at 70 points. This is a bullish signal.
MACD: The daily MACD is expanding upwards, and the histogram is making higher highs. This shows bulls are in full control of the price.
The bias for XRP is bullish.
Short-Term Prediction for XRP Price
With this breakout, XRP is well on its way to reaching a higher valuation. The key resistance levels at 60 and 68 cents may not hold the price down for long, particularly if this momentum is maintained.
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Cryptocurrency charts by TradingView.