Analysis

XRP Tests Critical Resistance at $1.28 and Targets $1.50 Again

California, US – XRP challenges the resistance at $1.28, while the XRP/USDT pair has a 6%-increase in the recent 24 hours. Moreover, the bull flag looks forward to hitting the score $1.50.

XRP began displaying upside-performances after the price jumped from the EMA or Exponential Moving Average of 20-day. The ongoing case of Ripple and SEC or Securities and Exchange Commission affected the trajectory of this crypto.

The price of XRP could not pass the high price of $1.34 after the overall boost of 155% from its July trading price. On the other hand, the previous events pointed out that the movement of this price might arise into a strong wedge pattern, which attempted a breakout. While brawling with the resistance zone at $1.28, it might retest decreasing trend line of the strong structure.

The overhead resistance’s clearance marks the movement to its all-time high. Despite the possibility of the price to exhibit a strong cup, it’s possible to make its way to the $2.18-target price in the close term.

XRP Tests Critical Resistance at 1.28 and Targets 1.50 Again
XRP analyst foresees this crypto to trade at $1.50 to $1.60 in the next few days.

What’s important now is for XRP to keep its volume. It has been a losing streak since August 15, and the performance indicates that traders should be ready for a big move ahead. Regardless of the bearish moment in the candlestick, the price traded at $1.22. It might make buyers enter long positions, aiming the 32%-rally.

On another note, the price of the XRP/USD pair increased 4.74%, reaching $1.296, and it’s the first time since August 23. It boosted alongside the spike in exchanging volume of the four-hour chart. It confirmed the intent of traders to support the upside move in the next sessions.

XRP needs to go higher, and it will reflect a similar strong move in other cryptocurrencies. CrediBULL Crypto stated that XRP might reach $1.50 to $1.60 in the next few days. This analyst also stated impulse buying sentiment close to the bottoms of all major digital assets, including Bitcoin or BTC.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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