- XRP/USD in upside consolidates, gathering strength before the next push higher.
- The No. 7 coin spots a bull crossover on the daily chart, amid a bullish RSI.
- $0.65 remains on the buyers’ radar on a sustained break above critical resistance just above $0.60.
Ripple (XRP/USD) is holding the higher ground for the third straight session, as sellers continue to lurk just shy of the $0.60 mark.
The no.7 crypto coin awaits a strong catalyst for the next push higher. The Good Friday holiday-thinned trading could likely propel exaggerated move in the spot.
At the time of writing, XRP/USD is trading better bid above $57,100 levels, posting small gains on the day. The coin tracks the upbeat sentiment across the crypto board, as Bitcoin briefly regains the $60,000 threshold.
XRP/USD: Looking for a big break higher?
XRP/USD: Daily chart
Ripple’s daily chart shows that the price has failed to find acceptance above the powerful horizontal trendline resistance (orange) at $0.60.
This has prompted the bulls to enter a phase of consolidation, as they gather strength once again, in order to yield a sustained break above the latter.
If the upside break materializes, the next fierce barrier awaits around $0.6425, which is a static resistance, represented by a horizontal trendline (yellow).
A daily closing above that level is needed to resume the uptrend towards $0.80.
The 14-day Relative Strength Index (RSI) trades listless but comfortable above the midline, suggesting that there remains an additional room for the spot to rise.
A bull crossover, charted by the 21-daily moving average (DMA) having pierced through the 50-DMA from below, further adds credence to the bullish potential.
On the flip side, Immediate support awaits at the bullish 21-DMA of $0.5155, below which the 50-DMA at $0.5031 could be challenged.
Further south, the strong psychological support at $0.50 could help limit the declines in the XRP/USD pair.
XRP/USD: Additional levels to consider
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