Key Highlights:

Ripple (available on Binance) price managed to hold steady around $0.95 for the past few days
XRP/USD broke through a critical resistance of $0.92 earlier today
A bullish trend is forming, taking XRP toward a new resistance at $0.955

Ripple (available on Binance) Breaks Resistance, Holds Steady

Earlier today, Ripple (available on Binance) broke through a critical resistance point of $0.92, now holding steady at around $0.95. This follows up on last week’s price movements which saw the cryptocurrency drop below $1.00 and enter a bear territory.

Now, a bullish trend is forming again, which could test a new resistance of approximately $0.955. Next up would be $0.97 if XRP manages to surpass $0.95 and go on another bull run. On the downside, a price level of $0.935 is still attainable. A triangle pattern has also formed to show the possible XRP price range for the rest of the day.

Source: Tradingview

In terms of technicals, a bullish signal is shown by the MACD line crossover. The moving averages are also indicating a bullish reversal that could take XRP above $0.94.

Looking at the Technical Indicators:

Hourly MACD — Bullish signal sent
Major Support Level — $0.935
Major Resistance Level — $0.955

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In addition to writing financial content and analysis, Jackson has worked as a business journalist at Stockwatch and research analyst at various organizations. He obtained his MA Economics from Concordia University in Montreal and BA Economics from the University of British Columbia, with special emphasis on environmental and industrial economics.