XRP price according to the court ruling increased by over 80 % and exceeds the $ 0.80 mark-how will the price develop?
XRP price according to the court ruling increased by over 80 % and exceeds the $ 0.80 mark-how will the price develop?
The XRP price has recorded an impressive increase after a recent court ruling and exceeded the $ 0.80 mark. In fact, he even tested the $ 0.95 zone, but is currently in a phase of correction.
The XRP token price has exceeded both the resistance values of $ 0.65 and $ 0.80. In addition, the trading price is well over $ 0.5,000 and the simple sliding 100-day average.
On the daily chart of the XRP/USD couple, a breakthrough via an important declining trend line with a resistance of close to $ 0.50 can be seen. This has paved the way for a strong increase over the resistance of $ 0.65. The price has increased by over 80 % and even reached the $ 0.95 mark.
The XRP price currently corrects its profits and is below the 23.6 %FIB retracement level of upward movement from the swing low of $ 0.4460 to high of $ 0.9479. Nevertheless, the price is still well over $ 0.5,000 and the simple sliding 100-day average.
The immediate resistance is close to the $ 0.85 mark, while the first major resistance is close to the $ 0.92 brand. A breakthrough through this resistance could bring the price back into the zone of $ 0.95. However, the main obstacle is close to the $ 1 mark. A clear breakthrough over this resistance could pave the way for a strong increase in the direction of the $ 1.10.
The first support is close to the $ 0.750 mark on the underside. The first great support could be near the $ 0.70 mark or the 50 %FIB retracement level of the upward movement. Another decline could lead the price towards $ 0.55.
The technical indicators show that the daily MACD now loses dynamics and the RSI for XRP/USD is in the overbought area.
In summary, it can be said that the XRP price has recorded an impressive increase according to the court ruling. Although the price is currently corrected, the bulls could be active near $ 0.70, while resistance will remain a decisive brand at $ 1. Investors will follow the further events carefully.