Ripple Surges Ahead, Battles Resistance at $0.23500

Apr 30, 2020 at 12:49 // News
Coin Idol
Ripple battles resistance

Ripple has made a tremendous bullish run after a rebound. The rebound breaks through the resistances of $0.20 and $0.20500.

The price made excellent moves as it reached a high of $0.23500. Unfortunately, XRP has reached the overbought region of the market. Interestingly, in a strong trending market, the overbought region may not hold.

Nonetheless, yesterday's rebound ought to have reached the high of $0.24 but it is currently facing a minor resistance at $0.23500. A further upward movement will depend on the bulls breaking the resistance of $0.23500 and $0.24. It is anticipated that a break above these levels will push XRP to a high of $0.28. Conversely, the market may drop to $0.20500 low before a resumption of the uptrend.

Ripple indicator analysis 

At the moment XRP is in the overbought region. The market has reached a 90% range of the daily stochastic. The coin is still in a strong bullish momentum. The EMAs have made a bullish crossover indicating the uptrend. Besides, the crypto will remain bullish as long as the price is above the EMAs.

XRP chart.png

Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15  

What is the next direction for Ripple?  

Ripple is in an uptrend as the bulls break the resistance levels of $0.20 and $0.20500. The crypto has fallen to $0.21917 as the time of writing. The coin is currently battling the minor resistance at $0.23500. Nevertheless, if the bulls pulled back from the current resistance, the market will find support at $0.20500.

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

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