- Key Support: $ 0.89
- Key resistance: $ 1
XRP has rallied sharply from the lower end of the range at $ 0.75. The cryptocurrency has broken out of the $ 0.89 resistance and appears ready to test the $ 1 resistance.
XRP / USDT daily chart | Source: TradingView
Technical indicators
Volume: The volume on a breakout above $ 0.89 is large. This shows that this is a valid breakout and the bulls have the upper hand at the moment.
RSI: The daily RSI is sloping up and has crossed over 50. This is a momentum indicator and movements above 50 are considered to be an uptrend.
MACD: The daily MACD has also formed a bullish cross and is sloping up. Support the continuation of the uptrend.
XRP / USDT daily chart | Source: TradingView
Perspectives
The current trend of XRP is bullish. It is important to keep an eye on price action at USD 1 as this is the key level to maintain upward momentum.
Indicators and price action are currently favoring a break above $ 1, suggesting a sustained rally.
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