- The price of XRP has been steadily rising and is now at $0.89.
- Since last week, the XRP/USDT pair has risen by 50%.
The technical chart shows solid bullish momentum with seven consecutive green candles. To determine whether buyers are ready for a bullish rebound, bears must sustain strong resistance at $1. Since last week, the XRP price has risen by 50%.
Rebounding from annual support of $0.6 on February 4, the XRP price formed weekly-morning star candle patterns. As the XRP SEC lawsuit nears its conclusion, the price of XRP has broken over the $0.8 barrier level.
Bulls Eyeing $1 Psychological Level
The price of XRP has been steadily rising and is now at $0.89. A declining triangular formation can be seen on the technical chart of XRP, and the coin’s price is approaching the confluence resistance of the pattern’s resistance trend line and the $1 psychological level.
This week’s Relative Strength Index (50) has risen above the 14-SMA and threatens to cross the midline. Even though the XRP price is now in the grip of a significant bearish pattern, the latest price movement has highlighted the full potential.
To put it another way, a price range between $1 and the 200 EMA should be dealt with carefully. It is prudent for a trader to avoid the battle between these two critical technical levels and wait for proof that one side has the upper hand. After a strong breakout and closing above the stated points, a new trend should be ready to begin.
According to CoinMarketCap, the XRP price today is $0.894966 USD with a 24-hour trading volume of $4,110,046,275 USD. XRP is up 10.88% in the last 24 hours.
