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Ripple Technical Analysis: XRP/USD close to a breakout above $0.21 after blasting through a daily trendline

  • XRP price is currently above $0.20 after climbing above a strong daily trendline.
  • XRP/USD remains in a daily uptrend with a good amount of momentum in the last three days.
Ripple Technical Analysis: XRP/USD close to a breakout above $0.21 after blasting through a daily trendline
Lorenzo StroeLorenzo StroeIndependent Analyst

XRP is seeing a lot of bullish moves after defending the daily 26-EMA several times in a row. The digital asset finally had a bounce after the extended consolidation period. XRP had been trading inside a descending parallel channel for about two months before finally seeing a clear breakout.

XRP/USD daily chart

XRPUSD

XRP is above both daily EMAs and the trendline. The next resistance point is located at $0.2117, the high of July 9. There is also a resistance point at $0.2147, close to the first one but nothing else until $0.22 and above. 

Author

Lorenzo Stroe

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.

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