XRP’s value motion exploded in November, right here’s what you might want to know.
Key Assist ranges: $0.92
Key Resistance ranges: $1.6
1. XRP is Consolidating After a Sturdy Rally
In November, XRP’s value went on a 200% run to the $1.6 resistance. That is each spectacular and shocking contemplating that this cryptocurrency is a high 10 coin by market cap.
Ethereum, for instance, solely superior 50% in the identical interval. This has returned consideration to XRP and the worth is consolidating beneath the important thing resistance on the time of this publish.
2. Bias Stays Bullish
The weekly MACD reveals a transparent bullish bias. There isn’t any weak point within the value motion both and the histogram reveals that by making greater highs. The primary takeaway is that XRP has a probable probability to proceed greater later.
3. Weekly RSI Cooldown
Whereas the general momentum stays bullish, the weekly RSI reveals that its depth has decreased and this can be a wholesome retrace earlier than additional features. As soon as this consolidation is over, the important thing resistance at $1.6 could also be put beneath stress once more.
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