NewsletterXRP 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
- Eric Trump Says Now Is a Great Time to Buy Bitcoin Amid Crypto Crash
- Dogecoin, Cardano, Shiba Inu Eye Wider Adoption as Coinbase Announces Perpetual-Style Futures
- Solana News: SOL’s Supply Could Drop Twice as Fast as Disinflation Proposal Goes Live
- Trump Tariffs: White House Prepares Plan B as Crypto Market Awaits Supreme Court Ruling
- Michael Saylor’s Strategy Hints It Will Keep Buying Bitcoin, Citing 2022 Bear Market Playbook
- Zcash Price Soars 10% as OKX Eyes ZEC Relisting
- WLFI Price Soars 17%: What’s Fueling the Surge?
- Dogecoin Price Eyes $0.2 Rally Ahead of Grayscale’s NYSE ETF Debut on November 24
- Crypto Market Eyes Major Rebound as Fed Rate Cut Chances Rise to 71%
- Dogecoin Price Finds Support: Can the 21Shares & Grayscale DOGE ETFs Spark a Surge?
- Will Solana Price Crash Under $100 as Crypto Market Signals Further Downside?
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.
Premium Partners
