- Ripple’s XRP price is now in bullish move as it broke the $0.29 resistance level against the USD.
- Bitcoin [BTC] and Ethereum [ETH] also joins the bull run.
- Next resistance level might be $0.31 against US Dollar.
Soon after the announcement of the Nasdaq adding Brave New Coin’s XRP Liquidity Index to its Global Index Data Service, the price of XRP surges. At the time of writing this article, XRP is valued at $0.308277 USD. The price is more than 4.62% in the last 24 hour.
Ripple’s XRP Price Analysis
Ripple’s XRP was holding a strong resistance level at around $0.28 to $0.29 which is now broken. Let’s have a look at the technicals like moving averages and Oscillators so that the trend would get clear.
After looking at the XRP price chart the daily moving averages shows massive sell pressure. The Exponential Moving Averages (5, 10) and Simple Moving Averages (5, 10) are in the buy zone while rest others are in the sell pressure zone. Also, the overall daily Oscillators is indicating selling pressure.
Relative Strength Index (14) on a daily basis is 45.37110500 and is in the neutral zone.
MACD Level (12, 26) is in the sell pressure zone with a value of −0.00718116
Stochastic RSI Fast (3, 3, 14, 14) having a value of 46.66835800 is in between sell and buy pressure zone.
Now let’s have a look at the hourly moving averages and oscillators. Almost all moving averages in the hourly price chart is in the buy zone recommending buy signal. The same case is with the hourly Oscillators, it’s also showing buy signal.
Bull Bear Power in case of the hourly price chart is -0.00085240 which is a positive sign for the traders of XRP.
Conclusion
After looking at the various indicators from the XRP price chart it can be concluded that the next target for the bulls will be $0.32 which could be achieved soon.