Ripple Is in a Minor Retracement, Battles the Resistance at $0.90
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Ripple (XRP) Long-Term Analysis: Bearish
Ripple’s (XRP) price has resumed bullish momentum as it battles the resistance at $0.90. The bullish momentum broke above the moving averages and the resistance line of the descending channel. The upward move is facing rejection at the $0.90 high. Because of that, the cryptocurrency is in a minor retracement.
The altcoin retraced to $0.80 support and resumed a fresh uptrend. On the upside, if the bulls break the $1.00 crucial resistance, XRP will resume upside momentum. It will revisit the previous highs of $1.20 and $1.30 price levels. Also, if the altcoin turns from the $1.00 overhead resistance, sellers will attempt to push XRP to the breakout level of $0.65.
Ripple (XRP) Indicator Analysis
The altcoin has risen to level 74 of the Relative Strength Index for period 14. XRP is in an overbought region. Sellers will emerge to push prices down. The crypto’s price is above the moving averages which indicates a further upward move. Also, the XRP price has broken above the resistance line of the descending channel. It indicates that the downtrend has been terminated.
Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50
What Is the Next Direction for Ripple (XRP)?
XRP/USD is in an uptrend but it battles the resistance at $0.90. The current uptrend is facing resistance at the $0.90 high. On the upside, if the bullish momentum extends above the $1.00 overhead resistance, XRP will resume upside momentum.
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