Ripple’s price has been on an uptrend, finding support at the significant 200-day moving average of around $0.41. According to technical analysis by Shayan, following a mid-term consolidation correction stage, the recent rejection phase has finally found support at the 200-day moving average, initiating an upward trend. If XRP manages to surpass the resistance zone at $0.56, it is likely to enter a long-term bullish rally.
On the 4-hour chart, the immediate resistance region at $0.4675 is the primary barrier, should the price surpass this resistance, its next target will be the channel’s upper boundary of approximately $0.6.
As we have seen Ripple’s price movement, it is important to note that cryptocurrency investments carry risk. It is vital to conduct research before making investment decisions.
Source: TradingView.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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