XRP Breaking Above Resistance Of $0.25 Avoiding Long Stay in Critical Bearish Region

  • XRP has shown significant positive momentum on Monday’s trading session with an overall gain of 6.12% upfront. 
  • The XRP/BTC pair is also performing positively with an overall gain of 5.59% bringing the current level to 0.00002329 BTC. 
  • However, the current price levels have shifted below the resistance level of $0.25 meanwhile bulls look to have firm control. 

XRP is performing significantly positive with the overall price recovery momentum in the market. The digital asset has gained 6.12% bringing the current price level to $0.247. The bulls were successful in breaking above the major resistance mark of $0.250 however failed to sustain above it. 

Source: coinmarketcap

On the weekly chart, the price levels highlight the ongoing strong bullish move for XRP in the market. After facing consolidation for the past couple of days, the crypto asset has finally revived its buying volume in the market. There has been a significant increase in the volume traded of around $ 721,193,990 as compared to the previous trading day. For capitalizing on this significant bullish move, ripple needs to sustain above the resistance level of $0.25 otherwise will have the fear of consolidation. 

Ripple (XRP) Technical Analysis 

Source: TradingView
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The technical chart highlights the current positive move which helped the levels to break above 0236 fib level. However, sustainability on and above 0.236 fib levels still remains in doubt looking the past price behavior with the same levels. 

RSI levels are showing negative nature just after touching the tip of the overbought region which is surely not a good sign looking at the current positive move. Currently, the level stands at 67.64. Any downfall below 55 can bring back the bears. 

However, MACD levels are looking extremely bullish with a strong bullish crossover. The levels are showing positive nature. 

Resistance level: $0.254

Support level: $0.230 

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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.

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