XRP Could Rally to $0.68 as It Breaks Above Key Resistance
An ascending triangle pattern has materialized on the daily chart of
XRPUSDT
. Over the past 24 hours, the cryptocurrency managed to breach the lower boundary of this pattern, situated at $0.6235. What's more, it sustained trading above this level as of the current moment.
If XRP can maintain a closing price above this crucial threshold by the end of today's trading session, it could pave the way for further upward movement in the coming days. This potential rally might propel the cryptocurrency to reach the next significant resistance level at $0.68.
Currently, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) lend support to this optimistic outlook. In the previous 48 hours, the RSI line managed to surpass the RSI Simple Moving Average (SMA) line, indicating that the bulls have gained an advantage over the sellers in XRP's daily chart.
Furthermore, the MACD line is in the process of crossing above the MACD Signal line. The convergence of these two technical indicators could signify a continuation of XRP's bullish trend.
XRPUSDT
. Over the past 24 hours, the cryptocurrency managed to breach the lower boundary of this pattern, situated at $0.6235. What's more, it sustained trading above this level as of the current moment. If XRP can maintain a closing price above this crucial threshold by the end of today's trading session, it could pave the way for further upward movement in the coming days. This potential rally might propel the cryptocurrency to reach the next significant resistance level at $0.68.
Currently, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) lend support to this optimistic outlook. In the previous 48 hours, the RSI line managed to surpass the RSI Simple Moving Average (SMA) line, indicating that the bulls have gained an advantage over the sellers in XRP's daily chart.
Furthermore, the MACD line is in the process of crossing above the MACD Signal line. The convergence of these two technical indicators could signify a continuation of XRP's bullish trend.