The bulls are unrelenting as the price rebounded at a low of $0.17950 to push XRP out of the range-bound zone. Since the last breakdown at the low of $0.12, the bulls have been pushing XRP to the previous highs.
Buyers have successfully pushed XRP before the rebound at the low of $0.17950. The current rebound has taken the price to the high of $0.20500 but faces minor resistance. The market will continue its upward move despite the initial minor resistance. It is anticipated that Ripple will move up to the high of $0.25 if the bulls continue to sustain the price above $0.18. Conversely, if the market retraces, it may fall to the low of $0.19000 or $0.19500 and resume the upward move.
Ripple has moved above the 80% range of the daily stochastic indicator. It means that XRP is now in the overbought region of the market. However, in a strong trend, the market will continue to linger in the overbought condition without the appearance of the bears to push Ripple downward. At other trending markets, sellers will appear immediately after an overbought condition.
Key Resistance Zones: $0.35, $0.40, $0.45
Key Support Zones: $0.25, $0.20, $0.15
Ripple has resumed an uptrend after the resistance at $0.18 was breached. XRP bounced to reach a high of $0.20. It appears its movement is being slowed down because of the minor resistance at $0.20. Undoubtedly, the uptrend is continuing as the market approaches the $0.25 resistance.
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.