According to analysts at Investing.com, the signs point to an XRP rally. The prerequisite for a continuation of the upward movement, however, is a rise above the high of August 8 at 0.84, as the financial portal’s crypto experts found.
Ripple course: The signs point to the XRP rally
“The Ripple price has been in recovery mode since mid-July. After a short sideways phase at the end of July / beginning of August, the cryptocurrency for cross-border payments has sped over the smoothing of the last 50 days (currently at $ 0.65823), resulting in a The XRP is currently starting another attempt to break out, but this time it is not an important resistance line for the short-term trend that has since become a support, but rather one that defines the overarching trend around the 200-day line (currently at $ 0.88596). “
“A sustained spurt above the high of August 8 at $ 0.84 and the relevant smoothing line at $ 0.88 would provide additional tailwind in this context, because then the latest XRP price development could be interpreted as a bottoming out.”
“A look at the technical indicators is currently useful for investors. Since the MACD is stably trading above its zero line, XRP investors can assume an upward phase. At the same time, the RSI, which likes to act as an early warning signal, is still well below the overbought areas, which gives the XRP leeway on the upside before a deeper correction moves onto the agenda. “
“So the chances of success are there.”
“If the break is successful, the psychologically important mark of $ 1.00 defines a first milestone. In perspective, a successful lower reversal even warrants an attempt at the horizontal resistance at $ 1.25.”
“In order not to frivolously gamble away the promising starting position, the Ripple XRP should avoid sliding below the 50-day line at $ 0.65.”