Why Did ripple (XRP) Price Rise Today?
XRP started to rise after buyers took control of the price movement. Let’s examine a few different technical indicators that can provide important information about where the market is now and where it might go next.
Key Support levels: 0.54 USD
Key Resistance levels: $0.68
1. Surge Breaks Resistance
Buyers reversed the downtrend and broke key resistance at 54 cents, which is currently testing as support. If they can keep the price above this level, the bullish momentum could intensify.
Chart by TradingView
2. Rollback in progress
After some hesitation, XRP bulls took the initiative today and managed to push the price higher. If they persist, this cryptocurrency could start a rally and approach 60 cents again. Later, XRP may even challenge the key resistance at 68 cents, which is still quite far away.
Chart by TradingView
3. MACD Bullish Cross
While the daily MACD is strongly bullish, the 2-day MACD has also completed its uptrend today. This is further evidence that the momentum is shifting towards the uptrend. This could be the beginning of a sustainable recovery following April’s losses.
Chart by TradingView
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