Today happens to be the path-breaking day for XRP as its price took a dramatic yet a bullish change. The coin seems to be attempting to replicate the previous year’s bullish impact but is slightly below where XRP was in February 2019.
Ripple Price Analysis
Recently, Ripple cryptocurrency has struck a few spikes above $0.28, too, noting how the coin is actively testing the resistance levels. The recent price rally above $0.28 is largely due to yesterday’s sharp surge of XRP coin above $0.2690; before that, it has been correcting down amid the declining flag.
Here, the price level of $0.2490 has acted as a strong support level. At this moment, XRP is busy settling its price trend above $0.28 with stability. The short-term SMA line is well above the long-term SMA line, which shows the current positive bias of the Ripple cryptocurrency.
Over the last 24 hours, the coin has shown two major price jumps due to which it has cleared major resistance levels. Price levels around $0.26 seem to be holding a decent support area. On the other hand, Bitcoin’s recovery is yet to reach above $9300.
Contradictory to XRP’s current sentiment, the MACD indicator is heading towards the bearish territory with its MACD line on the downside. The coin is trading just a little above the 50-Day SMA line.
The multi-month chart of XRP reveals that the coin was this high in November last year. This year’s price escalation has formed a strong bullish trendline, and it is today when the coin has breached major resistance levels above $0.2500.
XRP is likely to touch the $0.30 price mark over the next couple of weeks if the same momentum remains intact.