XRP flies upwards, first target is at $0.33.
- The strength of the XRP is stunning after many weeks of weakness.
- If XRP pierces the $0.34 level upwards, it can fly towards $0.50.
XRP is rallying quickly during the early hours of the U.S. trading session to $0.325.
The primary objective is now very close to the price level of $0.33, where the simple moving average of 100 periods converges with a strong level of price congestion resistance.
Above this critical obstacle, the simple average of 200 periods awaits at $0.34. Breaching this level would give the definitive bullish signal that could push the XRP price straight towards $0.50.
It is very likely that sellers will show up at current and higher levels, as profitability from lows is considerable.
Author
Tomas Salles
FXStreet
Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.
