Ripple Rises To A New High Of $3.66

The price of Ripple (XRP) has continued to rise and has broken through all resistance levels, including the $3.40 mark.

XRP long-term analysis: bullish

The cryptocurrency reached a new high of $3.66, but pulled back again. According to the price indicator, XRP is expected to continue its uptrend.

The weekly chart shows a retraced candlestick body testing the 38.2% Fibonacci retracement line. The retracement predicts that XRP will rise to the Fibonacci extension of $1.618 or $4.27. XRP is now worth $3.60.

XRP price indicator analysis

On both charts, the price bars are above the moving average lines, indicating an uptrend. On the daily chart, the blue 21-day SMA has crossed above the 50-day SMA, indicating an uptrend. XRP is currently trading in the overbought zone of the market.

Technical indicators:

Resistance Levels – $2.80 and $3.00

Support Levels – $1.80 and $1.60

What is the next move for XRP?

XRP has started to rise again, overcoming resistance levels and reaching all-time highs. On the daily chart, XRP has continued its uptrend and is approaching the high of $3.70. The cryptocurrency is approaching its price target of $4.27.

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