• Key support: $0.70
• Key Resistance: $0.96, $1

Ripple (XRP) broke a key resistance at $0.70 on significant volume yesterday and the price surged to $0.91. The previous resistance has now turned into support and the next key levels to watch are $0.96 and $1.

After a strong rally yesterday, XRP could either consolidate or suffer a temporary drop before testing the $1 level over the next few days.

Source: TradingView

Technical indicators

Trading Volume: Yesterday’s and today’s purchasing power is strong. This confirms the breakout and gives confidence that XRP may finally test the key psychological level at $1.

RSI: The daily RSI is in the overbought territory above 70. There is still room upside but it is important to be extra cautious at these levels.

MACD: The daily MACD continues to move higher, with expanding moving averages and higher momentum bars on the histogram. This dynamic is unlikely to change right now, so the chances of the price reaching $1 are high.

 Source: TradingView

Perspectives

The current trend of XRP is bullish. A break above $0.70 turned the trend into an uptrend.

Short term prediction

The volume and momentum behind this recent price action is positive and it looks like XRP will hit $1 before facing significant resistance. There is also a possibility of some short-term pullbacks along the way, but the overall price action remains bullish.

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