Home Analysis Will XRP Break Above $0.250 with the Current Bullish Move?

Will XRP Break Above $0.250 with the Current Bullish Move?

  • XRP has been one of the top performers on Monday’s market session in which it nearly gained around 3.00%
  • The XRP/BTC pair is also performing positive with the overall gain of 1.64% bringing the current level to 0.00002154 BTC
XRP PRICE 1
Source: Coinmarketcap

XRP after breaking below the price level of $0.240 on Sunday’s market session triggered its buying volume on Monday’s market session having an overall gain of 2.50% and reclaimed the price mark of $0.240. The CMP is placed at $0.247933 with the market capitalization of $11,218,505,648 with the 24-hour volume traded of $1,461,347,010. The crypto asset might be able to reclaim the $0.250 mark with this positive move. 

Technical Levels Turning Positive for XRP

XRP TECH
Source: Tradingview

The technical levels highlight the downtrend faced by Ripple from the past month which is later followed by price recovery action this month. Currently, the digital asset is facing major resistance which is placed at 0.5fib level which forces the price levels to break below 0.236fib level. However, just after the break, the buying volume was triggered and the positive move was back. This helped the price levels to maintain sustainability above the 0.236fib level giving a positive signal in the market. 

The directional movement index is showcasing bullish nature as ADX(29.69) is well above -DI(15.50). 

The commodity channel index had a sharp positive divergence from the oversold region and reached the overbought region with the current level of 315.26.

The relative strength index is also showcasing positive nature targeting overbought region with the current level of 61.26. 

Will the Current Positive Move be Sustainable for XRP? 

The technical levels and overall market conditions are favoring the crypto asset. We can expect the price levels to have a positive breakout above the price mark of $0.250. 

RESISTANCE LEVEL: $0.250 & $0.264

SUPPORT LEVEL: $0.240 

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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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