Ripple has finally broken out of its prolonged consolidation phase, and there is an increasing bullish momentum.
Key Support levels: $0.53
Key Resistance levels: $0.60, $0.68
XRP has created a higher high by surpassing the 53 cents resistance, which has now become a support level. This important shift in market structure has pushed sellers aside. However, bears can make a comeback at the critical resistance levels of 60 and 68 cents.
Trading Volume: Buying volume has surged, and this momentum may drive the price much higher.
RSI: The daily RSI is nearing the overbought zone at 70 points, a bullish signal.
MACD: The daily MACD is increasing upwardly, and the histogram is seeing higher highs, indicating that bulls have complete control of the price.
Bias
The bias for XRP remains bullish.
Short-Term Prediction for XRP Price
After breaking out, XRP is on its way to a higher valuation. If this momentum persists, the key resistance levels at 60 and 68 cents may not hold the price down for long.
