Ripple Is Testing Major Resistance

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Ripple is testing major resistance as it is now trading around $0.7400.

Key Highlights:

  • There is a major bullish trend line forming over the past few hours
  • Now, XRP is testing a major resistance of $0.7400
  • Several support levels (such as $0.6600) have been tested

Ripple Now Recovering?

At the moment, it looks like there’s a major bullish trend line forming for XRP. The coin was able to revert from today’s low of $0.5900, now trading around $0.7400, which is its newly established major resistance. Investors will need to wait and see if Ripple breaks through this level within the next hours to see how far this bull run really goes.

Testing Major Resistance

Source: Tradingview

During today’s trading session, XRP was able to fight off multiple supports — $0.6600, $0.6800, and $0.7200 — and is now testing the major resistance. MACD also shows XRP is in a bullish zone, as the signal line just crossed the MACD line in the last hour.

Looking at the Technical Indicators:

  • Six-hour MACD — bullish signal
  • Support Level — $0.7200
  • New Resistance Level — $0.7400

Featured Image: twitter

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.

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