XRP broke above $3 overnight! How high will it go?
Key Support levels: $3, $2.8
Key Resistance levels: $3.3, $3.6
1. New Rally Takes XRP Above $3
In the past 24h, XRP broke the resistance at $3 and reached $3.2 for a brief period. This latest breakout turned $3 into a key support. As long as buyers defend this key level, XRP has a good chance to move higher still.
The price is up by 34% in the past seven days, making XRP the best performer in the top ten cryptocurrencies by market capitalization.
2. The Price Makes a Higher High
Since early December, XRP has been moving sideways inside a large range between $2 and $2.8. Now, the price broke above the upper limit of this channel which is acting as support. Should buyers continue to dominate, the next targets are found at $3.3 and $3.6.
3. Bullish Momentum Intensifies
Since the daily MACD did a bullish cross last week, the histogram has been making higher highs. This momentum has intensified in the past two days which allowed the price to make new highs. All eyes are now on the key resistance at $3.3.
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Cryptocurrency charts by TradingView.
