- The price is reaching $1.276, which represents a first resistance level.
- The 4-hour XRP/USD chart, moving averages and the MACD are pretty bullish.
So far, bitcoin has had a fantastic week, with the cryptocurrency trading over $66k. Ethereum, the most valuable cryptocurrency, has reached a new all-time high of $4,800. The price of XRP, one of the most popular cryptocurrencies, increased by about 9 percent.
In the previous 24 hours, the price of XRP/USD has fluctuated between $1.2192 and $1.2774, indicating a decrease in volatility. The market capitalization of XRP has increased by 14.63 percent to $2.7 billion, placing it in seventh place.
The value of XRP is now more than $1.20. The price had been above $1.25. A fresh all-time high of $1.276 has aided in the consolidation of the cryptocurrency price. Since then, XRP has surged by 19 percent, breaking through the top trend line of the pattern. If the price of XRP continues to grow, it might reach $1.31 to $1.41.
The symmetrical triangle formation on the daily chart shows that XRP is on the verge of a significant breakout. On the upside, the price is reaching $1.276, which represents a first resistance level. If the price can break beyond the $1.28 barrier, it may reach $1.30. Any more increases in the price might take the price beyond $1.35.
Sellers Are Interested
If the XRP price fails to slice through $1.27 and close above it, Ripple may stabilize for a few days, trading sideways, before gaining momentum. The first significant resistance level is at $1.22. The majority of the support is around $1.18.
When looking at the 4-hour XRP/USD chart, moving averages and the MACD are pretty bullish. The momentum indicator, on the other hand, suggests that sellers are interested. According to CoinMarketCap, the price of XRP today is $1.26 USD with $5,254,345,124 USD as 24-hour trading volume.
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