Ripple (XRP) Rebounds Above $1.10, Resumes Uptrend

Ripple (XRP) Long-Term Analysis: Bullish
Ripple’s (XRP) price has broken above the moving averages as the altcoin attempt to retest the $1.20 resistance. On October 9, the bulls were repelled at the $1.20 resistance as the market declined to $1.00 low. Since October 9, Ripple has been range-bound between $1 and $1.20. Today, as price breaks above the moving averages, the price movement will be accelerated to retest or breach the $1.20 high. A breakout at the $1.20 resistance will catapult the altcoin to revisit the previous high of $1.40. However, XRP/USD will continue to be range-bound if the range-bound levels remain unbroken.

Ripple (XRP) Indicator Analysis
Since October 9, the 21-day and the 50-day SMAs are still sloping horizontally indicating the sideways move. Ripple is at level 57 of the Relative Strength Index period 14. The crypto is in the uptrend zone and above the centerline 50. XRP is above the 80% area of the daily stochastic. The altcoin is in the overbought region of the market.

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)
On the 1-hour chart, Ripple is in an upward move as price breaks above the moving averages. The altcoin is in a minor retracement as it reaches the high of $1.15. Meanwhile, on November 2 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that XRP price will rise to level 1.618 Fibonacci extensions or $1.17.

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