Ripple’s price has experienced a significant surge after finding strong support around the 100-day moving average at $0.497. It is now approaching a crucial resistance level at $0.85, indicating a prevailing buying pressure in the market and a positive outlook for Ripple’s medium-term prospects.
Ripple Price Technical Analysis
By Shayan
The Daily Chart
Analyzing the daily chart, it is apparent that the XRP price increased after finding support at the 100-day moving average. However, it now faces a strong resistance zone at $0.85, characterized by high selling pressure and increased supply.
This development suggests a bullish sentiment among traders, increasing the likelihood of a breakthrough above the resistance region. However, it’s important to note that every significant upward movement is typically followed by a consolidation or correction phase, and Ripple’s price is no exception.
Therefore, it seems likely that the price will enter a short-term correction phase, accompan
We współpracy z: https://cryptopotato.com/xrp-price-analysis-can-ripple-bulls-push-toward-1-or-is-a-correction-imminent/
