Ripple, being one of the most influential altcoins, seems to have taken the recent price rally in the crypto market quite seriously. The coin has soared as high as $0.2350 just yesterday, after which it saw a strong pullback.
The downward corrections took the XRP price as low as $0.21, and it remained in the same zone until it closed the day. Apparently, the price levels above $0.23 are posing as resistance levels for the coin.
Over the last 2 days, XRP has formed a rising price pattern; however, it has been halted as couldn’t trade beyond $0.2350. as the coin started trading bearishly for the short-term, it went below the 50% fib level.
Today, from the initial hour, it has been rising with the intention of recovering the loss it faced because of the recent downward corrections.
The XRP coin holds pretty much bullish picture when it comes to the technical indicators. The MACD indicator is entering the positive zone with its MACD line on the upside. Meanwhile, the Bollinger bands have just started to open up, showing that more fluctuations are on the way. Also, the short-term SMA line is above the longer one, noting a positive sign.
