Ripple (XRP) Breaks the Barrier level but Faces Rejection at $0.43
January 24, 2023
Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) price is breaking over the barrier at $0.40 but faces rejection at $0.43. Following the recent breakout, buyers will be able to keep the price above the resistance for the first time. Potentially, the present price increase will reach a maximum of $0.45. The upward trend will eventually reach a high of $0.50. Nevertheless, the market’s overbought area is getting closer to a bullish momentum. It is therefore doubtful that the positive momentum will continue to the $0.50 high. If the barrier of $0.43 is not overcome, XRP will fall back to its breakout level of $0.40.
Ripple (XRP) Indicator Analysis
Ripple is moving in the right direction and has a Relative Strength of 69 for period 14. It shows that the bullishness of the market has run its course. If the price bars continue to rise above the moving average lines, the current uptrend might continue. The altcoin has been in a positive trend above the daily Stochastic threshold of 75. As the market enters the overbought zone, the bullish impetus is waning.
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)?
Ripple has left the range-bound movement but faced rejection at $0.43. At $0.43, XRP has entered the overbought zone. The bullish momentum has slowed since January 23. The price of the coin is ranging below the barrier level. The bullish trend will carry on after the current resistance is
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