Ripple (XRP) Surges Past $0.65 – What Next?

ByDawn Pipkin

Feb 6, 2022

Friday’s sessions saw Ripple’s XRP breaking past the vital resistance level of $0.65, and the price has consolidated beyond the market since then. However, will the remittance coin test and confirm $0.65 as its support to support continued upside moves?

Vital Support levels – $0.65 and $0.58

Vital Resistance levels – $0.70 and $0.79

Ripple has witnessed a lucrative weekend so far, maintaining beyond its newfound support of $0.65. However, momentum seems to pause, suggesting indecision in price movements. XRP’s next challenge is overcoming the crucial resistance near $0.70. Overpowering this level will see Ripple attempting to topple $1 again.

XRP Technical Indicators

  • Trading Volume

Ripple saw a decent volume amount on Saturday and Friday. However, the cross-border coin saw low volatility today (Sunday).

  • Relative Strength Index

The daily Relative Strength Index noted a higher high, suggesting a potential pullback. With that, XRP might plunge to test the vital support zone around $0.65 before extending its upward move.

  • Moving Average Convergence Divergence

The daily Moving Average Convergence Divergence remains bullish. Moreover, the indicator exhibits enough momentum despite Sunday’s low volume. The histogram still makes high highs, supporting the bullish case.

Ripple Bias

Currently, XRP exhibits a bullish bias. Nevertheless, the resistance at $0.70 highlights that the price will hardly surge more without consolidation or pullback. Ripple enthusiasts may need to watch Monday’s trends to predict XRP’s next move.

Ripple Near-Term Forecast

Weekend upswings in the crypto world had XRP turning bullish. For now, the remittance token requires momentum to keep vital support for extended surges. With that, it can break past $0.70. Nevertheless, overcoming this hurled may be perplexing as sellers might step up around the mark before XRP surges towards $1.

Nevertheless, cryptocurrency analysts remain bullish on the crypto assets, including XRP. FXStreet experts believe the remittance can see a 22% upward move. Broad market bias may be vital for Ripple’s directional trends. XRP enthusiasts should wait for Monday sessions before trading the alt. Bulls have to step up to trigger sustained upside actions.

For now, bears seem to dominate following the weekend bullishness. The crypto market seems to fall at this publication. Maintaining such actions might lead to weak price moves in the upcoming trading sessions.

The information provided on this website should not be interpreted as financial or investment guidance and may not embody the perspectives of Forex Tools Trader or its contributors. Forex Tools Trader does not hold responsibility for any financial setbacks experienced due to the use of information provided on this website by its writers or patrons. It's essential to thoroughly investigate and make informed decisions before entering any financial commitments, particularly concerning third-party reviews, presales, and similar ventures. The content you are viewing may be sponsored content, read our full disclaimer to learn more.

Don't Miss Out!

Artificial Intelligence Trading Software

CypherMindHQ Trading Robot, OpenAI (ChatGPT4) Enabled - The Best AI Trading System Ever Created

Sign Up

Try Crypto Engine With a Trusted Broker