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Ripple's Token Price Rallies 5% and Could Continue to Rise Toward Resistance Levels

Ripple's XRP token has surpassed the $0.50 resistance level against the US Dollar and may continue to rise towards the $0.525 and $0.550 resistance levels. The price is currently trading above the 100 simple moving average (4 hours) and a key bullish trend line is forming with support near $0.4910.

However, if the $0.505 resistance zone is not cleared, there could be a downside correction with initial support near $0.491 and the trend line. Technical indicators show that the MACD for XRP/USD is gaining pace in the bullish zone and the RSI for XRP/USD is now in the overbought zone.

XRP XRP $1.38
-6.27%
Ripple XRP
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