XRP has broken out from a descending resistance trend line that had been in place for 296 days, which often leads to notable upward movements. Interestingly, the trend line was formed after the final bullish MACD signal.
Over a two-month period, both the daily MACD and RSI, which is at -0.01206 (blue), and 48.03(purple) respectively, have produced significant bullish divergences, which frequently pave the way for bullish trend reversals and could probably trigger the breakout for higher levels.
Therefore, if the demand for XRP remains high, its price could bounce back from the current level. The next target for the price is $0.575, and if this level is breached, it could open up the price for a stretch towards $0.700.
However, if the XRP crypto price fails to hold above the $0.495 level, it may decline further and reach lower price points.
Over a two-month period, both the daily MACD and RSI, which is at -0.01206 (blue), and 48.03(purple) respectively, have produced significant bullish divergences, which frequently pave the way for bullish trend reversals and could probably trigger the breakout for higher levels.
Therefore, if the demand for XRP remains high, its price could bounce back from the current level. The next target for the price is $0.575, and if this level is breached, it could open up the price for a stretch towards $0.700.
However, if the XRP crypto price fails to hold above the $0.495 level, it may decline further and reach lower price points.