Ripple price analysis: Bulls break past $0.45, $0.46 is up next
- XRP/USD went up from $0.428 to $0.448 this Monday.
- The bulls have the momentum needed to break past resistance at $0.46.
XRP/USD bulls had a productive day this Monday as its price went up from $0.428 to $0.448, buoyed by the news of the MoneyGram partnership. Currently, the bulls need to rally together and break past resistance at $0.46. The price has reached the top curve of the 20-day Bollinger band so there is a chance that the bears will come in soon to check the price. In the early hours of Tuesday, the price was able to go past the $0.448 level, which has thwarted the bulls before and is currently priced at $0.449.
XRP/USD daily chart
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XRP/USD has had five bullish sessions in a row. The price has gone up from $0.399 to $0.449 over this period. The price is trending above the 20-day simple moving average (SMA 20), SMA 50 and SMA 200 curves and has found support on the upward trending line.
The moving average convergence/divergence (MACD) indicator shows that the signal line has crossed over and moved away from the MACD line, showing increasing bullish momentum. The Elliot oscillator shows three straight bullish sessions. The relative strength index (RSI) indicator is trending around 64.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
