XRP Holds a Robust Support Level; Stabilizes Above $0.28
Ripple (XRP) News:
- XRP price is about to have a bullish breakout above its 50-day SMA line
- The coin has managed to have a close above $0.2841 in the morning; currently correcting with a stable momentum
- The coin is consolidating without allowing any bearish domination; however, a declining flag has taken place
- Price range below $0.2800 acts as a support level; support level at $0.2796 has already been tested
XRP was already above $0.27 due to the day before yesterday’s surge and the coin has sustained the bullish trend today too. On the other hand, Bitcoin is also on a bullish spree as it has climbed above the $9700 price mark. Thankfully, the $10,000 price mark seems imminent for Bitcoin as of now.
Ripple opened today on a short term bearish note at $0.2781 and declined slightly below $0.2735. Here, it found a support level at $0.2732 and slowly started an uptrend.
The uptrend faced a pause at $0.2747 and then it resumed the surge. The 3.42% hike took the coin way above $0.28 before it faced rejection above $0.2841.
The downward corrections have caused the coin to test a few support levels below $0.2800 but overall, XRP to USD seems stable and positive.
While correcting down, it has formed a mild declining flag and XRP has been largely trading within the moving averages. The altcoin is prepping to have a bullish breakout of the bearish flag.
Also, RSI and MACD are giving bullish signs at the moment while SMA lines are also painting a positive picture. In a nutshell, XRP is likely to remain bullish at-least for the short term.