- Ripple XRP Has Managed to Cross the Resistance at $0.2000 After Weeks Rejection
- If the Token Maintains the Bullish Momentum, the Price of the Ripple XRP Might Retest the $0.245 Level
Ripple News Today – For more than two weeks, the Ripple XRP token was stuck below the $0.2000 level. The token fell right after the Bitcoin bull run drove the price of XRP as high as $0.2200. At the time, we reported that the support at $0.2000 was crucial for preventing lower lows. So, it wasn’t a surprise when the token lost the support at $0.2000. The token remained in the $0.1900 level for over two weeks until two days ago when it finally managed to retest the $0.2000 level. The rise in price was a direct result of the Cardano ADA bull run that has been fueling the altcoin market for days. Can the Ripple XRP Price move as high as $0.245 level.
Ripple News Today – Will the Ripple XRP Token Retest the $0.245 Level Near-term?
The technical charts show that the Ripple XRP candles are oscillating in a symmetrical triangle. This is the pattern that tokens take before they breakout. The thing with the triangle is that the price can break out either from the upward side or the downward side. The daily average shows that the token is most likely moving toward the bullish phase. Another thing that shows that the bulls might have control of the market is the 50-day moving average which has moved below the final candle. So, after the competition pattern, CRO may experience smooth sailing to the $0.24 level.
Even if the price of Ripple XRP has managed to move to the $0.2000 level, gaining above this point has been difficult over the last two days. If the token is able to gain above the $0.2200 level, the price of the token will most likely retest the $0.245 level for the first time in months. Crossing the $0.245 level will lead to more gains to the $0.284 and eventually the token will test $0.310. The relative strength index is above 50 levels.
At the time of writing, the price of the Ripple XRP token was $0.204936. This price of the token is up by 0.13% against the USD and up by 0.27% against the price of BTC. The trading volume over a 24 hour period is $1,684,557,892 and the market capitalization is $9,040,297,834. If XRP is unable to hold the line, it will retest the $0.182 level near-term. The next few days of trading will determine the direction the Ripple XRP token is going to take.