Can It Overcome $0.66 For Further Upside?
The post Can It Overcome $0.66 For Further Upside? appeared on BitcoinEthereumNews.com.
XRP has captured market attention with a 6% surge, raising speculation about potential gains should it break through the key $0.60 resistance level. As the cryptocurrency climbs closer to this crucial resistance level, traders are eager to see if it can maintain its upward momentum and surpass this barrier or encounter another pullback at this critical juncture. This article analyzes XRP’s recent rally, examines the technical and market indicators, and assesses the likelihood of a sustained breakout. It will provide readers with insights into the altcoin’s current market dynamics, the significance of the $0.60 resistance level, and the potential scenarios that could unfold if XRP successfully surpasses this critical threshold. Over the past 24 hours, XRP has risen by 7.01%, bringing its price to around $0.6056. The token’s market capitalization has exceeded $33 billion, while its trading volume has surpassed $1.6 billion. During this period, the market cap and trading volume have grown by 7.10% and 132.52%, respectively. XRP Performance: A Closer Look At The 6% Spike XRP’s price exhibits active bullish behavior, trading above the 100-day Simple Moving Average (SMA) in the 4-hour timeframe. This sustained price action above this key indicator suggests that bullish momentum is firmly in control. As a result, the upward trend could likely extend further, especially if the price continues to hold above the $0.57 critical resistance level. XRP’s price currently holding above $0.57 | Source: XRPUSDT on Tradingview.com Also, the Relative Strength Index (RSI) indicates that XRP could continue its surge toward the $0.66 resistance level. The signal line has risen above 50% and is trending around 69%, suggesting that bullish pressure remains strong in the market. On the 1-day, XRP’s price is actively bullish, trading above the 100-day SMA after a successful break above the $0.57 resistance level. It can be observed that the…
Filed under: News - @ August 20, 2024 5:25 pm