Analysis: Ripple’s (XRP) Bull Run Hangs on Crucial Resistance Level

By Owen Patter Feb 13, 202446Views

XRP Testing Key Resistance, Will it Break Higher?

XRP is currently testing a key resistance level just under 54 cents. If this level is broken, there is a good chance that XRP will rally higher towards the next target at 68 cents. However, more buying volume is needed to break through this resistance.

Bullish Momentum Indicated by Indicators

The momentum indicators are showing a bullish bias for XRP. The two-day MACD has recently done a bullish cross, indicating that buyers have the upper hand and could push XRP higher in the near future.

Daily RSI Signals Potential for Higher Movement

The daily RSI has made a higher high, signaling that XRP may be ready to move higher. The only thing currently preventing buyers from pushing XRP into a rally is the key resistance at 54 cents.

Once the key resistance at 54 cents becomes a support level, the bias will change to bullish. This could lead to new highs for XRP and a potential target of 68 cents.

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Owen Patter

Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen's contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.