XRP May Break the $0.65 Resistance Level Towards the $0.80 Level
LONDON, United Kingdom – Ripple is rising again as it trades at $0.64, potentially moving higher. XRP was starting its way to recovery when May started. If you are a trader or holder of this coin, you will be happy to hear that it is now going above the 9-day moving average.
Although there are still no concrete predictions for this coin, experts believe that Ripple can move to the upside towards the resistance level of $0.70. If it surpasses the 21-day moving averages, it will likely overcome the resistance level. Expect to see more bullish movements as bulls take the upper hand.
The Relative Strength Index (14) is now moving above the 40-level, which indicates a consistent recovery from the downside. If XRP manages to go above the $0.65 resistance level, you can expect higher prices and higher gains from Ripple. It could even push the resistance levels to $0.75, $0.80, and $0.85 and support levels of $0.52, $0.47, and $0.42.
Compared to Bitcoin, it also shows recovery as it moves above the 9-day moving average. It peaked at 1649 SAT before resorting back to the 1627 SAT. If buyers put pressure on the trade, there might be more upward movements to expect from Ripple.
Still, you cannot neglect sellers’ chances to gain the upper hand. If that scenario happens, XRP/BTC might dip to 1400 SAT support or lower. Same as with USD, the Relative Strength Index is also at the 40-level, potentially moving upward towards a new resistance level of 1800 SAT.
In a nutshell, you may see a lot of bullish movements from the XRP if bulls maintain the momentum and if buyers put pressure on the market.