XRP price up more than 50% last week
XRP Bulls return $ 1.00 for first time in more than 2 months
XRP price has completely cleared its long-term trend
XRP Bulls have emerged from hibernation over the past few days after a long 2-month downward trend. BTC & ETH has experienced a strong recovery in the last 2 weeks, and the price of XRP has followed the last few days. The overall cryptocurrency Sunday has been completely outpaced by all the downtrend and is in a better position in recent months. Even given the current litigation with Ripple and the Securities Commission, XRP Bulls last month raised the price by about 110%. This shows the enormous power and interest that still manifests in XRP, and one can only imagine its potential when the case is fully resolved.
Looking at the last few weeks of trading, it is clear that XRP has created an ever-widening wedge. This pattern is bullish, but the price usually deviates on both trends. It’s only in the last few hours that we see the price of xrp deviating from the top trend.
This top Trend also meets a larger resistance zone that XRP has been in for months. For the price to continue to rise, Bulls must fully exceed this resistance zone at $ 0.98 – $ 1.06 and stay above that. This would open the bottom for the XRP price to reach $ 1.20.
XRP price analysis: 4-hour XRP / USDT chart
After such a big leap, we can assume that there will soon be some kind of retreat. If the Bulls don’t stay above the big resistance zone, we can return to the long-term trend line that has kept the XRP price low since $ 1.95. This would be perfectly normal & can be considered a break & test again as long as it stays above the price. Alongside the Trend line, there is a significant support at $ 0.895. As long as XRP is above this level, it can continue its upward trend. The gap between the two brands will bring the price back to a decidedly high of $ 0.70.
Stochastic RSI moving in overso
