Price Analysis

XRP Breaches 4-Month High and Trades Above $0.24

XRP, after reclaiming 30-day high in the second week of the ongoing month, extended its winning streak until the end of the month, and with that, it is now hitting the 4-month high above $0.24. XRP has always been reaping slow yet steady profits and is majorly influenced by Bitcoin and its price dynamics.

As Bitcoin reclaimed a trading position above $10k and is near to breaching $11k at $10.9k, XRP and other influential altcoins are holding a bullish trading state. After a flattish consolidation in the second week of the ongoing month, XRP/USD is now trading above $0.24 at $0.2416.

XRP Price Analysis

XRP News
XRP/USD Chart By TradingView

XRP, on a 2-hourly chart, is surrounded by positive market sentiment. XRP is hitting the upper 20-day Bollinger Band with expanding volatility as projected from the laid technical. XRP price trend against the greenback is showing a steep surge from the $0.22 trading area and is retaining complete support from 50-day and 200-day daily MAs at $0.222 and $0.2050, respectively.

The global crypto market is holding a bullish sentiment overall after having traded sideways in the previous month. Moreover, cryptos like Bitcoin, XRP, Ethereum, Zcash, Tezos, etc., have regained their lost momentum and are breaching the stringent resistances.

The technicals laid on the 2-hourly chart are completely bullish due to intraday positive crossover and trading above $0.24. In this regard, the MACD line of the coin is crossing above the signal line, and similarly, the RSI is reflecting the overbought nature of the security as it lies at 66.62. Ripple’s XRP is an avenue for long-term investment, and the major support and resistance to watch out for lies at $0.235 and $0.25, respectively.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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