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.

Lorenzo Stroe Independent 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

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

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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XRP/USD daily chart

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