Ripple Price Analysis: XRP Token Price Rises Climbs Higher On The Fibonacci Levels – Cryptocurrency News – The Market Periodical

• XRP Token price has increased more than 15% in the past week.

• The price action analysis indicates a strong uptrend in action as the price reverses from the 50% Fibonacci Level.

• The pair of XRP/BTC is trading at 0.00002063 BTC with an intraday gain of +4.46%.

XRP token price action forms bullish engulfing candlesticks in the daily chart. Moreover, the candlestick shows that the price is sustaining above the short-term 38.20% Fibonacci retracement level. 

Furthermore, the price action indicates the continuous formation of higher highs. Thus, indicating a solid uptrend in action.

The intraday volume is above the 20-days volume MA representing that the buying pressure is increasing. In Addition, the coin price is trading above all the crucial daily EMAs, projecting a bullish rally.

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The XRP Token price trades at $1.14, increasing 5.54% in market capitalization over the past 24 hours, suggesting that the price manages to sustain above the $1 mark.

XRP Token In The 4-hour Chart                    

XRP token price action indicates a strong uptrend in action supported with a solid ascending curve in the 4-hour chart. In addition, tAs a result, the price action projects a bullish breakout above the $1.12 mark. 

As per price action, the resistance levels for the token are residing at $1.18 and $1.27 marks. In the case of a bearish reversal from any support level, bulls may find resistance at $1.10 or $1.

The EMAs in the 4-hour technical chart climb higher in a bullish formation with a positive slope that may support the prices in a bearish attack. 

The RSI indicator forecasts a surge in underlying bullish biases regarding the slope of RSI spikes higher in the daily chart.

The ADX indicator represents a slight fall in trend momentum.

Conclusion – The XRP token price soars above all the EMAs. However, the breakout above the $1.12 may drive the price higher to the $1.27 mark. Therefore, the retest of the breakout can be an excellent bullish entry spot.

Support – $1.10 and $1.00

Resistance – $1.18 and $1.27

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