XRP Bulls Aiming For $0.20 Mark With Significant Positive Move

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • XRP is finally showing sustainability after breaking the resistance level of $0.18
  • The heavy downfall faced by ripple after touching the resistance area of $0.35 is coming to end.
  • The XRP/BTC pair is also performing positively with the overall gain of 1.52% bringing the level to 0.00002693 BTC. 

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Source: Coinmarketcap

From the starting of April, current price of xrp is enjoying recovery due to the significant bullish momentum in the market. It crossed the major hurdle of $0.20 without any hesitation and reached its critical resistance area of $0.23. Due to which it started facing a heavy downfall which resulted in significant price pullback. It touched the major support level of $0.15 and currently broke the resistance of $0.18 too.

However, crossing the crucial mark of $0.20 will be a positive sign for the cryptoasset. A break above the price level of $0.23 which pushes the XRP prices to a safe zone. The current price is $0.18 with an overall gain of 3.93%. The market capitalization is $8,340,228,445 and volume traded of $2,475,310,336.  

Screenshot (213)
Source: Tradingview

The technical chart reflects on the bullish momentum build by Ripple from the starting of April which is later followed by the price recovery line. XRP touched its month-high of $0.23 during its bullish momentum and currently broke a resistance level of $0.18.

The technical indicators and oscillators suggest that the crucial price level of $0.20 will provide XRP the needed boost. MACD levels have reached the bullish zone with significant buying volume which is a positive sign. RSI is also reaching a strong bullish level of 60 in the graph with a negative divergence. CCI is also in the overbought region but close to the normal zone.

Resistance level: $0.20 and $0.23

Support level: $0.16

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