XRP Price Rises Steadily Towards $0.2800, Bulls In Action

The XRP price rises in today’s crypto news but we can see that despite the high volume on the day, it did not manage to surge past $0.2800. What’s important is that the price is very close to this mark and remains in uptrend for a new surge.

In the past three sessions, there was a major rally in Ethereum which gave the price a boost above $200 and $210, but the XRP price failed to match gains. In that manner, it climbed steadily and remained stable above the $0.2800 level.

Moreover, there was a close above the $0.2800 level as well as the 100 hourly simple average. Finally, Ripple surpassed the $0.2850 resistance and traded to a new 2020 high at $0.2880 which is again a price level to watch right now.

As the XRP price rises, it is currently in a mild support and the recent upward move proved that it can do a lot more in the future. What is even more important as the XRP news today show is the ascending channel that is forming with support near $0.2780 and resistance at $0.2800.

On the upside, we can see that an initial hurdle is near the $0.2880 level and a successful break above it might start a steady rise towards the $0.2950 and $0.2980 levels which are expected by tons of analysts right now. The main resistance on the upside is still near $0.3000.

As we already mentioned, the XRP price rises and is backed by the key supports forming near the $0.2800 level and if there is a downside break, the price could only fall and test the $0.2760 area.

Overall, the Ripple XRP cryptocurrency remains in a decent uptrend and the bulls are likely to aim for a test of $0.3000 in the near term as long as there are no closes below the 100 hourly SMA.

Below, we are listing the technical indicators for Ripple (XRP) now.

Technical Indicators

• Hourly MACD – The MACD for XRP/USD is in a good pace and moving into the bearish zone.
• Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is correcting lower towards the 50 level at the moment.
• Major Support Levels – $0.2825, $0.2800 and $0.2760.
• Major Resistance Levels – $0.2880, $0.2950 and $0.3000.

Meanwhile, the total market cap is stable at $277 billion and $280 billion is the obvious new target.