Ripple Technical Analysis: XRP/USD aiming to climb above $0.235 but needs to consolidate first
- XRP/USD has seen a surprising recovery climbing from $0.169 to $0.21.
- The daily chart is an uptrend now with a lot of bullish momentum.
XRP is seeing even more continuation after the surge towards $0.207 on July 8. The daily RSI is on the verge of overextension, and the trading volume keeps increasing. XRP/USD breached above a long-term trendline formed on the daily chart and seems to be ready to crack the last high at $0.235.
XRP/USD daily chart
-637298975512149273.png)
The overextended RSI could indicate that a pullback is nearby. The 12-EMA and the 26-EMA have crossed bullishly and the MACD continues climbing. Bulls will use the $0.20 level as support followed by the EMAs when they catch up to the price.
XRP/USD weekly chart
 (1)-637298975982640659.png)
Although XRP has established a clear higher low at $0.169 compared to $0.11. Bulls still need to break $0.2357 to confirm a weekly uptrend. So far, they have managed to climb above the 12-EMA and the 26-EMA and are only facing resistance at $0.215.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
