XRP tests the critical resistance of $ 0.5, but will the rally continue? (Ripple price analysis)

XRP tests the critical resistance of $ 0.5, but will the rally continue? (Ripple price analysis)

rippleder price has shown an upward movement in the past few weeks. However, there is a remarkable resistance that must be overcome before a more sustainable rally can be expected.

technical analysis

from: edris

XRP/USDT-TACTART:

XRP showed a steady upward trend after it was rejected by the sliding 200-day average of around $ 0.4. In addition, he exceeded the sliding 50-day average of around $ 0.45 and seems to be striving for the resistance zone at 0.6 US dollars at short notice.

A successful breakthrough of the $ 0.6 mark would probably initiate an upward phase, whereby the price could possibly achieve up to $ 0.9 in the medium term. However, it is worth noting that the RSI recently displayed an overbought state, which indicates the possibility of a withdrawal or a consolidation phase in the coming days.

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XRP/BTC-Ta-type

The price successfully broke the significant downward channel after finding support near the satellite level of 0.000016. In addition, both the sliding 50-day average, which is 0.000017 SAT, and the static level of resistance were exceeded at 0.000018 SAT.

The price tries to break through the sliding 200-day average; However, the overbought signal of the RSI indicates the possibility of a short -term correction. In such a scenario, both the satellite level of 0.000018 and the sliding 50-day average are tested again, which offers support to the market.

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