XRP Price Moves towards Previous High of $3.30
If you’ve been keeping an eye on XRP (XRP) lately, you may have noticed some exciting movement in the market. After hitting the $3.00 mark on December 2, the price of XRP has been on the rise. Even though the altcoin retraced above $2.17, it seems like the bulls are still buying on dips.
And the good news keeps coming – XRP has resumed its positive upward momentum. In fact, some predictions suggest that XRP could even return to its January 2018 glory days when it reached $3.30.
But, as with any investment, there are no guarantees. The price indicators are pointing towards a potential rise, but there’s a chance that XRP could reverse at the $3.52 mark. On the flip side, if XRP falls below the $3.00 resistance level, it might end up moving in a range below the previous high but above the moving averages. Currently, XRP is valued at $2.43, so keep an eye on the numbers.
Looking at the technical indicators, it’s clear that the price bars are still above the moving average lines, despite the recent rejection of the last high. On the 4-hour chart, the price bars were previously stuck between the moving average lines, but now they’re on the rise. XRP is expected to climb higher after breaking above the 21-day SMA.
In terms of resistance and support levels, keep an eye on $3.00 and $3.30 for resistance, and $2.00 and $1.70 for support.
So, what’s next for XRP? Well, on the 4-hour chart, XRP is currently balancing between the moving average lines on the downside. The cryptocurrency’s price is on the rise after surpassing the 21-day SMA. The upward momentum might hit a roadblock around the $2.60 mark, but if the positive trend continues, we could see XRP reach $3.00 once again. For now, XRP is hovering above $2.20 and below the $3.00 resistance, so stay tuned for more updates.
Just remember, this analysis and forecast are just personal opinions and should not be taken as a recommendation to buy or sell cryptocurrency. Make sure to do your own research before making any investment decisions.
