MEXCXRP Price Prediction: XRP Price To Rechallenge $0.9 Resistance; Buy Time?
The continuation pattern resulting in favor of bulls has set a new recovery for the Ripple(XRP) price. The sluggish rally continues to approach the local resistance of $0.9, hoping to overcome February’s high resistance. Can buyers maintain the buying momentum to the $1 mark?
Key points:
- The 50-and-100-day SMA nearing a positive crossover
- The daily-MACD indicator lines enter the bullish region
- The intraday trading volume in the XRP is $2.07 Billion, indicating a 57.6% loss.
Source- Tradingview
On March 11th, the Ripple(XRP) price ended a three-week consolidation period by giving a decisive breakout from the symmetrical triangle pattern. The bullish rally tagged the $0.85 psychological level and reverted, displaying a long-tail rejection candle.
The pullback retest of the breached trendline and the long tails attached to these rest candles validated a genuine breakout. The post retest rally has surged the altcoin by 6.73%, where it currently trades at the $0.8 mark.
XRP price chart shows the ascending support trendline remains intact, and the long traders can hold onto their position until this price doesn’t close below it. The steady rally should pump the altcoin to $0.9 monthly resistance.
Alternatively, If the sellers breach the dynamic support, the traders can experience a downfall to the $0.7 mark, followed by another 14.5% decline to $0.6.
Technical Indicator
The upcurved 50-day SMA bolster the buyers’ defense at the ascending trendline. However, the buyers could struggle to overcome the 200-day SMA situated near the $0.9 resistance.
The Moving average convergence divergence (MACD) indicator lines gradually rallying in the bullish territory indicate the rising bullish momentum.
- Resistance level: $0.88-$0.90 and $1
- Support levels: $0.758 and $0.69
- Breaking: XRP Treasury Evernorth Debuts on Nasdaq Under XRPN Ticker After $1B Token Purchase
- BlockDAG Listing Rumors on Coinbase and Kraken Fuel Hype; But Analysts Urge Caution
- Toobit Introduces Multi-Million Dollar Shield Fund to Protect Traders Against Platform Incidents
- $1.7 Trillion T. Rowe Price Files for First U.S. Spot Shiba Inu ETF, Boosting SHIB’s Adoption
- XRP News: Key Ripple Whale Indicator Turns Bullish After 4 Months, Price Rally Ahead?
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
