Is XRP About to Skyrocket to $0.9 Next? (Ripple Price Analysis)
Technical Analysis
By TradingRage
Ripple’s price has been running wild over the last few weeks following a rebound from the $0.5 range in October. While a pullback seems probable in the coming days, the price faces little resistance before the $0.9 resistance level.
The USDT Paired Chart
Against USDT, the price has broken above the $0.6 level and has been rallying higher since. The 50-day and 200-day moving averages have also demonstrated a bullish crossover recently, with the 50-day moving average crossing the 200-day moving average to the upside.
This is a classic bullish shift signal, and the market seems likely to climb toward the $0.9 resistance area shortly.
The BTC Paired Chart
Looking at the BTC pair, things look quite similar for Ripple. The price has recently broken above the 1800 SAT level and the 200-day moving average, located around the 1900 SAT mark.
Moreover, the market has also retested the 200-day moving average yesterday and held above. As a result, the price seems more likely to push toward the 2200 SAT resistance zone in the coming days.
With the Relative Strength Index also showing values above 50%, a bullish continuation is looking very probable at the moment.
The post Is XRP About to Skyrocket to $0.9 Next? (Ripple Price Analysis) appeared first on CryptoPotato.
Filed under: Bitcoin - @ November 9, 2023 4:45 am