In the last few hours, XRP has surged, breaking a resistance level dating back to mid-July 2023. The price now stands above the MA100D and MA200D, both which are rising. Additionally, XRP has surpassed the $0.615~ resistance indicated by the fixed range volume profile applied from 2023/07/13 until today — this resistance will now become a support, as well as the moving averages.
The macro movement suggests a 6-year compression in the price. Considering that this is a bull market and, therefore, the long-term tendency is bullish, the breaking of this resistance could be the first in a series of movements that may propel XRP's value above its all-time high.
The macro movement suggests a 6-year compression in the price. Considering that this is a bull market and, therefore, the long-term tendency is bullish, the breaking of this resistance could be the first in a series of movements that may propel XRP's value above its all-time high.
Trade attivo:
Next resistance level: $0.75