Bitcoin

Ripple (XRP) Bull Run Hinging on This Major Resistance Level (Analysis)

1 Mins read

XRP is just under a key resistance. Will it break above it?

Key Support levels: $0.43

Key Resistance levels: $0.54, $0.68

1. Resistance Under Pressure

The price is right under the resistance at 54 cents. If buyers break this level, then XRP has a good chance to rally higher towards the next target at 68 cents. Momentum favors bulls, but more buy volume is needed to break through.

XRPUSDT_2024-02-13_19-19-39
Chart by TradingView

2. Indicators Turning Bullish

The momentum indicators are giving a bullish bias. For example, the two-day MACD did a bullish cross today. This highlights that buyers have the upper hand and could soon take XRP higher.

XRPUSDT_2024-02-13_19-19-58
Chart by TradingView

3. Daily RSI Makes a Higher High

The daily RSI has made a higher high. This is an early signal that this cryptocurrency wants to move higher. The key resistance at 54 cents is the only thing stopping buyers from pushing XRP into a rally.

XRPUSDT_2024-02-13_19-21-17
Chart by TradingView

The bias will change to bullish as soon as the key resistance at 54 cents is turned into a support. At that point, XRP is likely to make new highs and aim for 68 cents next.

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