Connect with us

Technical Analysis

XRP price breaks crucial resistance once again

Published

 

on

  • XRP/USD price gains 1% over in 24 hours
  • The resistance level at $0.26500 is tested
  • 1 hour MACD indicator is bullish

1 Day XRP/USD price chart

After trading horizontally since the weekend XRP price yet again went above the resistance level of $0.26500. Can that resistance become new support is yet to be seen. High-tail candlestick that finished the bullish momentum move does indeed look bearish and may suggest that price will simply retrace back into consolidation zone between $0.25800 and $0.26500.    MACD indicator on one-hour price chart is suggesting though that bulls may still push the price higher in an attempt to finally move away from the $0.26500 in the upward direction.

XRP price really needs to consolidate at the current level and then move upwards for the market to move into bullish territory. Fall in demand would definitely increase the chances of downtrend down to levels $0.25500 in the short term.

Chart source: Tradingview

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. Ripplecoinnews does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. Investing in Cryptocurrencies involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses, and costs associated with investing, including total loss of principal, are your responsibility.


RippleCoinNews Newsletter

Keep Up With Blockchain Technology Updates and Ripple XRP Coin News & Price Analysis.

* We value your privacy and will never share your information with anyone.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending