XRP bulls target $ 1.4 after breaking key resistance

XRP bulls have finally broken the resistance at $ 1.20 and now appear to be targeting $ 1.40.

Key Support Level: $ 1.20.

Key Resistance: $ 1.40.

XRP price rebounded in the past 2 days and traded above $ 1.20 – the previous resistance level has now become support. The next major resistance that is harder to break is at $ 1.40. The bears were quite shy during the rally and are likely to maintain their strength at this important resistance level, pushing XRP down significantly.

The source: TradingView

Technical indicators

Volume: Good volume as the price broke the blue triangle. However, the momentum seems to be easing for the bulls. This could re-test the USD 1.20 support before the price continues to rise.

RSI: The RSI has made a higher high on the daily timeframe, indicating a positive trend and is about to break above 70. This suggests that there is strong bullish momentum afoot.

MACD: In the daily time frame, the MACD continues to move up in the histogram and moving averages. This is expected to continue until the price encounters resistance at $ 1.40.

The source: TradingView

The trend remains bullish for XRP. The indicators are now positive after breaking the $ 1.20 mark. As long as the price stays above this level, the trend is bullish.

Short term prediction of the XRP price

Now XRP has broken the $ 1.20 level and the bulls can target the next major resistance at $ 1.40. However, this is unlikely to be a smooth run and the price could see some brief downward moves on the way up.

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