XRP (XRP) Tests Top of Its Range, Eyes the 35 Cents Mark

XRP has been on a tear, but the digital currency is now facing a hurdle at the top of its hourly range. XRP is presently testing the top of its range, and it is yet to decide whether to make a break or a bounce. However, the coin is still in the green, and it might likely move higher.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.00-0.80%

At the time of writing, XRP is trading at $0.3466 after an increase of 1.6 percent over the past twenty-four hours. The digital currency currently has a market cap of $13.73 billion and its trading volume over the past twenty-four hours is $308.93 million.

XRP (XRP) Technical Analysis

The 100-hourly simple moving average just moved over the longer-term 200-hourly simple moving average to indicate that the path of least resistance is currently heading north. This means that the upward movement is more likely to continue than to reverse.

Nevertheless, the moving averages could just be wavering at this point as the value of the coin is still moving sideways. The relative strength index is currently heading south to signal that sellers could be in charge, possibly sending the value of the digital currency back to the bottom of the range close to the 32 cents mark or at least halfway through until the area of interest at the $0.33 to $0.335 marks.

The stochastic oscillator is also moving downwards, but it is getting close to the oversold zones, which means sellers might give way for buyers to take control of the market. If this happens, XRP could make another attempt to break the top of the range.

The digital currency is currently capped on the upside at the 35 cents mark, a break over this level could pave the way for more gains towards the 36 cents mark – which would be the next resistance.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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