LONDON, the United Kingdom – If you own an XRP coin, then good news! Today might be when Ripple will gain its bullish momentum as it hits the $0.66 resistance level. Ripple has struggled the past few days due to the volatility of the cryptocurrency market and its involvement in the lawsuit case with the SEC. The charts show improvements for today, though, as Ripple tries to make its way on the highs again.
Yesterday, it was trading at around $0.64, which was lower than how it traded before. This value led many experts to think that the bears are starting to gain the upper hand as the Relative Strength Index goes to the oversold region. That scenario is still not out of the picture; however, the momentum that Ripple is getting heavily on how the bulls will pull the price up.
XRP is now trading at $0.66, a 0.55% increase from where it was – at $0.64. Note, though, that it is still hanging below both the nine and 21-day moving averages. On the brighter side, the daily charts suggest that the XRP is moving towards a $0.70 resistance level, which could signal it to move above the nine and 21-day moving averages. If it does so, then Ripple might gain some highs again. More bullish trends might be seen if the coin surpasses the $0.70 resistance level.
As Ripple continues to recover from its downside, it might also push forward to new resistance levels – at $0.85, $0.90, and $0.95. If this happens, new support levels can be seen at $0.45, $0.40, and $0.35.
In the upcoming days, it is up to the bulls to pull the price up, which will allow the Relative Strength Index to veer from the oversold region. Once this happens, you might see XRP back in action again.