After buyers confirmed the support at 54 cents, XRP returned on an uptrend. In the following, we take a look at a few technical indicators that might provide some insights into why the XRP price is up today.
Key Support levels: $0.54
Key Resistance levels: $0.60, $0.68
This past week, sellers attempted to stop XRP’s rally and pushed the price back on the support at 54 cents. However, buyers were not fazed and they managed to regain control of the price action which is now back on an uptrend.
Chart by TradingView
Since the price was well defended at 54 cents, XRP made a higher low. If the trend continues, this should be followed by a higher high which has as targets 60 and 68 cents.
Chart by TradingView
The weekly RSI has made an inverted head and shoulders reversal pattern, which could soon see it break above 50 points. If that happens, then the price may continue its uptrend and aim to reach 60 cents next.
Chart by TradingView
The post Why is the Ripple (XRP) Price Up Today? appeared first on CryptoPotato.
The debate over whether Bitcoin’s hashing algorithm can be hacked continues to evolve. This time,…
The Cardano Foundation has urged the European Commission not to broaden the Markets in Crypto-Assets…
Matt Crosby, a research director at Look Into Bitcoin, said in a recent interview that…
Cardano could be heading toward a fresh wave of adoption as market analyst Lana Valentis…
XRP bulls may have a reason to smile after a sharp surge in on-chain transaction…
TL;DR: Technical documentation for the proposed LendingProtocolV1_1 amendment describes closed-ended vaults with defined subscription and…