XRP/USD bulls hitting strongly on $0.2500 resistance

  • Ripple stays slightly in the green even as other major cryptocurrencies suffer amid widespread declines.
  • The zone at $0.24 is coming out as key support but the major support lies at $0.21 – $0.22.

Ripple is showing prowess in a relatively bearish cryptocurrency market. As discussed earlier Ripple upside has been capped at $0.25 (short-term) resistance. Despite this, the cryptoasset is trading above the trendline resistance as well as the 50 simple moving average (SMA) on the one-hour chart currently holding ground at $0.2467.

The relative strength index is trending upwards above the line connecting all the lower points reached since the plunge on September 24. The current trend has fizzled out at 50 (average) and the RSI has an inclination to the south.

Glancing upwards, it is vital that that the bulls push XRP into the bullish zone between $0.25 to $0.26. Trading in this zone will allow the buyers to focus on levels around the supply zone between$0.30 and $0.32.

XRP/USD one-hour chart


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