XRP Rallies to $0.62 as Buyers Target the $0.65 High
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XRP (XRP) Long-Term Analysis: Bullish
The XRP (XRP) price is continuously rising as buyers target the $0.65 high. Buyers have struggled to maintain the positive trend since October 31. For the past five days, the upward movement has been stopped at the $0.62 high. The price indicator predicts that the altcoin will increase to a high of $0.6546.
Meanwhile, the price of XRP is fluctuating between $0.60 and $0.62. If the current resistance level is breached, the coin will surge to a high of $0.65. On the downside, if the bears break through the $0.60 support level, the cryptocurrency will revert to the previous range-bound zone between $0.45 and $0.55. At the time of writing, XRP/USD is worth $0.61.
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 altcoin is on a steady upward trend. The 21-day SMA operates as a resistance or support level on the 4-hour chart. As the rally persisted, the price bars remained above the moving average lines. The moving average lines are trending upward, indicating an uptrend.
What Is the Next Direction for XRP (XRP)?
The cryptocurrency asset is gradually increasing in value as buyers target the $0.65 high. The existence of Doji candlesticks has limited the upward movement. The present upswing is still in effect as buyers try to keep the price above the current resistance level of $0.62. The price bars have held above the moving average lines, indicating that the coin will continue to rise.
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