Lorenzo Stroe
Independent Analyst
- XRP price continues to trade below the crucial $0.30 resistance level.
- The last breakout looks strong but hasn’t been enough just yet.
XRP has been struggling for a while even though the majority of the market has been heavily bullish. Ethereum and Bitcoin both had significant breakouts in the past 24 hours while XRP is still trying to climb above $0.30.
XRP/USD daily chart
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There is currently an expanding channel formed on the daily chart with $0.30 right in the middle. XRP has bounced back above both EMAs but the biggest test remains at $0.30. The last high is $0.327 but the 2020-high is all the way up at $0.346.
There is also not a lot of support below $0.254, which is the last low after the pullback. The 12-EMA and the 26-EMA were on the verge of a bear cross but might continue bullish if XRP can stay above $0.29.
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