The price of XRP has been stuck for a few days, since it has been rejected at the 4 month downtrend line. Bulls haven’t been able to break out to the upside after a powerful advance to about $1.35 last week.
The price of XRP is currently $1.24, with a tiny intraday change of -1.22 percent, and the volume to market cap ratio is 0.07879.
The major resistance from here is at the $1.28 – $1.37 level. If XRP manages to break above, $1.40 to play. An extended rally could take the token to $1.50 – $1.70 level.
In the event of a decline, however, $1.19 will be the critical support to keep. If bears drive prices below this level, we may see prices return to the $1.00-$1.10 range.
As for the technical indicator, The Stochastic RSI has been falling after many weeks near the overbought territory. Whereas the moving averages flash a buy signal.
XRP Price could hit new ATH
Popular Analyst Micheal Van De Poppe in a letter YouTube Video made bullish predictions for XRP. He says, The token has been making similar moves throughout time.
“…altcoin is making same moves in broader ways. For example, it started going up in Nov and then went down because of the SEC lawsuit. It started going up the same way in May and then corrected it”
According to Poppe, the next rally might be rather robust, with the token aiming for resistance levels of $2.85 and $4.30. If the token can establish itself above these levels, it will break the $3.40 milestone set in 2018.