On the 4-hour chart, Ripple (XRP) is in an uptrend. The cryptocurrency bounces each time it tests the bullish trend line. On January 9, XRP tested the trend line and bounced to the high of $0.25. However, the overwhelming selling pressure made the coin to fall back to the trend line. On January 25, Ripple rebounded after testing the trend line and the coin pushed to the high of $0.26. A Successive move is possible if bulls sustain hold above the 12-day EMA support.
Ripple battles the resistance at $0.26
In the last 48 hours, a breakout occurs at the $0.24 resistance and XRP was propelled to reach the high of $0.26. Meanwhile, it was anticipated that if the resistance at $0.24 was breached, the price would rally above $0.25. Then successive move by the bulls will extend to $0.30 price level. Today, XRP is retracing after testing the resistance at $0.26.
At the initial retracement, the coin fell and found support at $0.24500. The coin has been fluctuating in the last two days between $0.24500 and $0.26. Undoubtedly, the upward move cannot be ruled out based on the current indicators. Assuming, the bulls break the $0.26 resistance, XRP will rally above $0.30. Conversely, a break below the current support will result in the coin falling to the low of $0.23.
Ripple Market Cap: $10,941,662,421 | Trading Volume: $2,113,685,234 | Current Price: $0.251056
Key levels to watch
- Key Resistance Zones: $0.35, $0.40, $0.45
- Key Support Zones: $0.25, $0.20, $0.15
The MACD indicator:
The MACD shows that Ripple is trading above the zero line of the indicator. Ripple will continue its uptrend move as long as the MACD line and the signal line are above the zero line. In the same vein, the coin is rising because the price bars are above the EMAs.
The Relative Strength Index (RSI) indicator
Ripple has reached level 63 of the RSI period 14 which indicates that the market is still in the uptrend zone. The upward move is not negotiable as long as the price bars are above the 12-day EMA and the 26-day EMA.