Ripple Price Analysis: XRP/USD bullish momentum stalls beneath $0.23
|- Ripple pushes past descending trendline resistance amid growing bullish sentiments.
- The improving technical picture is the only way out of the bearish range between $0.21 and $0.23.
Ripple is among the cryptocurrencies pushing for the end of the week's recovery. The Asian session is characterized by a minor 0.2% gain in value on the day. The volatility is expanding alongside the improving technical picture. XRP/USD is teetering at $0.2225 although it opened the Friday session at $0.2220.
The bulls are intentional in their muscle flexing. For instance, a break above the trendline resistance and the 50 SMA on the 4-hour chart means that XRP bulls are finally waking up. Marginally from the current market value, the 100 SMA is hindering growth at $0.2283. Moreover, the crucial resistance at $0.23 is still intact although it has been tested.
The RSI in the same 4-hour range is making a comeback after brushing shoulders with the oversold on December 3. The indicator is back above 50 and pointing slightly upwards. If the RSI continues with the upside movement, XRP could eventually catch momentum breaking above $0.23.
XRP/USD 4-hour chart
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