The post Bulls Target $0.80 After Breaking Key Resistance appeared on BitcoinEthereumNews.com.

TLDR XRP has shown strong momentum, breaking above $0.6320 and reaching $0.7488 Price currently maintaining stability above $0.6450 and 100-hourly SMA Key bullish trend line forming with support at $0.6280 Major resistance levels identified at $0.7480 and $0.7550 Trading volume has supported the upward movement with good market depth XRP has demonstrated remarkable price action in recent trading sessions, breaking above several key resistance levels and establishing new support zones. The digital asset has maintained steady momentum above the crucial $0.6320 support area, showing strength in its upward movement. The price movement began with a stable foundation above the $0.600 level, where buyers established a solid base. This support zone proved vital for the subsequent price increase, as traders found confidence in the stability of this price point. In a notable development, XRP initiated an upward trajectory, successfully breaking through the $0.6200 resistance level. XRP Price on CoinGecko This movement gained particular attention as it outperformed major cryptocurrencies including Bitcoin and Ethereum during recent trading sessions. The upward momentum continued as the price cleared the $0.6320 resistance, marking a crucial breakthrough in its short-term price action. This move demonstrated the growing buying pressure in the market and suggested increasing confidence among traders. Trading data from Kraken shows that XRP reached an impressive high of $0.7488 before experiencing a minor pullback. This peak represented a substantial gain from recent lows and highlighted the strength of the current bullish trend. During the correction phase, the price remained resilient, finding support above the psychologically important $0.700 level. The retracement tested the 50% Fibonacci level of the upward move from $0.6419 to $0.7488, showing healthy market behavior. Technical indicators have aligned to support the bullish case, with the price maintaining position above both $0.6320 and the 100-hourly Simple Moving Average. This technical setup suggests…

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Filed under: News - @ November 14, 2024 11:27 am