XRP testing crucial resistance, are $ 0.5 in the game? (Ripple price analysis)

XRP testing crucial resistance, are $ 0.5 in the game? (Ripple price analysis)

The price of Bitcoin has been tending lately, while Ripple has remained relatively stable and remained approximately at the same level without much movement. However, XRP currently shows signs of strength because it has exceeded a significant level of resistance.

technical analysis

of Shayan

Nevertheless, after a longer consolidation phase in the narrow area of ​​the triangle, the price has finally recorded an increase and exceeded the upper limit of the triangle and the sliding 200-day average at around $ 0.3997.

On the other hand, the cryptocurrency in the price region of $ 0.44 encounters considerable resistance. If XRP successfully overcomes this resistance region, an impulsive rally is imminent in the direction of higher price levels.

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Rippleder Price of stagnated between $ 0.32 and $ 0.43 and has not broken out of this range for some time. In addition, the price has formed a descending wedge pattern that is highlighted by yellow trend lines.

The price recently experienced an increase and exceeded the upper limit of the wedge, which gives an interest bully sign for the prospects of the currency. Nevertheless, the cryptocurrency faces an important resistance area that consists of $ 0.44 and the previous big swing at $ 0.4330.

If the price breaks through this vital resistance, XRP could initiate an upward movement and maybe even try $ 0.50.

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