After the outbreak, XRP is now testing the critical level again

After the outbreak, XRP is now testing the critical level again

rippleder Price of is broken via a critical level of resistance on the paired XRP/USD chart, which could initiate a rally in the coming days. Nevertheless, it could still be too early to say that the bear market is over.

technical analysis

from: Edris

XRP/USD daily diagram

On the paired USDT chart, the price exceeded the sliding 50-day and 200-day average lines together with the critical level of resistance of $ 0.43. The outbreak takes place after months of consolidation.

However, the price is now testing the open level of $ 0.43, this time as support. If the level lasts, an interest bully continuation in the direction of the $ 0.55 area could be expected at short notice.

Nevertheless, the RSI indicator recently issued an overbought signal, which could indicate the possibility of a failed outbreak (fakeout). This would be catastrophic for the bulls because the market could quickly fall back to the level of $ 0.3.

XRP/BTC-Tageniagramm

If you look at the paired BTC diagram, the price is similarly broken via a significant level of resistance around the satellite range of 0.000015.

The gliding 50-day average line, which is located near the 0.000017 satellite mark, has rejected the price, and since then the price has been on a renewed test of the open 0.000015 satellite level. If the level lasts, the price could target the SAT area of 0.000018 in the coming weeks.

On the other hand, a decline under the satellite area of 0.000015 could lead to a decline towards the level of 0.000013 and the lower limit of the large descending channel.

.