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Analysis

Here is the next target for XRP after breaking above $0.7

February 9, 2022 - Around 2 mins mins to read
  • Key support: $0.70
  • Key Resistance: $0.96, $1

Ripple (XRP) broke a key resistance at $0.70 on significant volume yesterday and the price surged to $0.91. The previous resistance has now turned into support and the next key levels to watch are $0.96 and $1.

After a strong rally yesterday, XRP could either consolidate or suffer a temporary drop before testing the $1 level over the next few days.

target for XRP

Source: TradingView

Technical indicators

Trading Volume: Yesterday’s and today’s purchasing power is strong. This confirms the breakout and gives confidence that XRP may finally test the key psychological level at $1.

RSI: The daily RSI is in the overbought territory above 70. There is still room upside but it is important to be extra cautious at these levels.

MACD: The daily MACD continues to move higher, with expanding moving averages and higher momentum bars on the histogram. This dynamic is unlikely to change right now, so the chances of the price reaching $1 are high.

target for XRP

 Source: TradingView

Perspectives

The current trend of XRP is bullish. A break above $0.70 turned the trend into an uptrend.

Short term prediction

The volume and momentum behind this recent price action is positive and it looks like XRP will hit $1 before facing significant resistance. There is also a possibility of some short-term pullbacks along the way, but the overall price action remains bullish.

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breaking

target

XRP

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Analysis

Here is the next target for XRP after breaking above $0.7

  • Key support: $0.70
  • Key Resistance: $0.96, $1

Ripple (XRP) broke a key resistance at $0.70 on significant volume yesterday and the price surged to $0.91. The previous resistance has now turned into support and the next key levels to watch are $0.96 and $1.

After a strong rally yesterday, XRP could either consolidate or suffer a temporary drop before testing the $1 level over the next few days.

target for XRP

Source: TradingView

Technical indicators

Trading Volume: Yesterday’s and today’s purchasing power is strong. This confirms the breakout and gives confidence that XRP may finally test the key psychological level at $1.

RSI: The daily RSI is in the overbought territory above 70. There is still room upside but it is important to be extra cautious at these levels.

MACD: The daily MACD continues to move higher, with expanding moving averages and higher momentum bars on the histogram. This dynamic is unlikely to change right now, so the chances of the price reaching $1 are high.

target for XRP

 Source: TradingView

Perspectives

The current trend of XRP is bullish. A break above $0.70 turned the trend into an uptrend.

Short term prediction

The volume and momentum behind this recent price action is positive and it looks like XRP will hit $1 before facing significant resistance. There is also a possibility of some short-term pullbacks along the way, but the overall price action remains bullish.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page