In the last few hours, XRP has surged, breaking a resistance level dating back to mid-July 2023. The price now stands above the MA100D and MA200D, both which are rising. Additionally, XRP has surpassed the $0.615~ resistance indicated by the fixed range volume profile applied from 2023/07/13 until today — this resistance will now become a support, as well as the moving averages.
The macro movement suggests a 6-year compression in the price. Considering that this is a bull market and, therefore, the long-term tendency is bullish, the breaking of this resistance could be the first in a series of movements that may propel XRP's value above its all-time high.
The macro movement suggests a 6-year compression in the price. Considering that this is a bull market and, therefore, the long-term tendency is bullish, the breaking of this resistance could be the first in a series of movements that may propel XRP's value above its all-time high.
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Next resistance level: $0.75
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.