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Price Analysis

XRP Price To Test $0.6 Resistance levels, Will it Make it or Break it?

Highlights

    XRP price is struggling hard to stay above $0.58, creating a strong support area

    The rally with the continued trend could possibly escort the price towards $0.6 initially

XRP Looking for a Bigger Break higher

The ongoing Ripple-SEC lawsuit has given immense momentum for the XRP price to surge with good margin. Some analysts also predicted that the price may get a bigger boost in coming days with the advancement of the lawsuit. 

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However, the XRP price since the time it touched the bottom below $0.45, consolidated finely, intending to fly high in coming days. According to Research 24/7, XRP price may surge as high as $0.65 once, it breaks the strong resistance level at $0.6.

The price has gained a good bullish trend accumulating more than 3.6% in the past hour, aiming to smash the barrier at the ATH. Currently, the XRP price is accumulating below $0.6 levels, and may smash these levels soon. However, the next target would be at $0.65 which is upcoming upper resistance levels. 

Also Read: XRP Price Analysis: Ripple Expects a SEC Deal, Could Boost Prices!!

XRP Price Analysis, Will It Hit $1?

The XRP price since the beginning of this month, is trending within a decent uptrend. Despite a slight pullback, the price still appears poised to smash $0.6 levels very soon. Woefully, the price slashed down with a bigger margin as it attained $0.59 levels in the previous trading day.

xrp price chart

At time of writing, the XRP price just hit the levels close to $0.59 and experienced a slight pull back. The price is trading around $0.5929 with a jump of nearly 4.86% since the past trading day. The RSI is trading in between the decent zones, however, the levels are standing strong above the zones around $0.5.

The MACD indicator since the beginning of this month showcased no particular signal. However, since the past couple of hours, the MACD line has risen above the signal line, indicating a buy signal.

Technical Specifications

  • The resistance levels are formed at $0.6 initially
  • The support levels are formed at $0.55
  • The indicators for Ripple’s XRP price point out towards a strong buy signal

Also Read: XRP Price Buckling up to Skyrocket Whopping 700%, Says Popular Trader.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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