XRP Gains Momentum as It Resumes Buying at Lower Levels
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XRP (XRP) Long-Term Analysis: Bullish
The price of XRP (XRP) breaks above the 21-day SMA as it resumes buying at lower levels. At the time of writing, the cryptocurrency had reached a high of $0.64. The altcoin is rising, approaching historic highs of $0.73 and $0.74. The altcoin was repulsed at the recent high on November 6 as it slipped between the moving average lines.
Today’s upward movement is reaching the resistance level of $0.66. The bulls have the upper hand because XRP is trading above the moving average lines. If the currency breaks through the initial resistance barrier, it will return to its earlier highs. If it is rejected at the $0.66 high, XRP will drop above the moving average lines.
Alternatively, XRP/USD will have to retrace above the moving average lines in a sideways direction.
Technical Indicators:
Major Resistance Levels – $1.00, $1.50, $2.00
Major Support Levels – $0.50, $0.30, $0.10
XRP (XRP) Indicator Analysis
The cryptocurrency asset, which was earlier trapped between the moving average lines, is now above them. The altcoin is expected to rise as long as the price bars remain above the moving averages. The candlestick’s wick suggests significant selling pressure at the higher price level on November 13.
What Is the Next Direction for XRP (XRP)?
The crypto asset resumes positive momentum as it resumes buying at lower levels. The altcoin is anticipated to rise as long as it remains in the bullish trend zone. The current bullish trend is taking us back to earlier highs. The current bullish momentum is meeting resistance at the $0.65 high. If it encounters repulsion at the recent high, the altcoin may restart its sideways movement.
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