Why is Ripple (XRP) price going up today?

XRP turned bullish after buyers took control of the price action. Let’s look at a few different technical indicators that can provide important insights into where the market currently stands and where it could be headed.

Key support levels: $0.54

Key resistance levels: $0.68

1. Resistance to ripple breaks

Buyers reversed the downtrend and broke the key resistance at 54 cents, which is now being tested as support. If they can hold the price above this level, the bullish momentum may intensify.

TradingView chart 2. Reversal in progress

After some hesitation, XRP bulls took the lead today and managed to push the price higher. If they persist, this cryptocurrency could start a rally and approach 60 cents again. Later, XRP could even challenge the key resistance at 68 cents, which is still quite far away.

TradingView Chart 3. MACD Bullish Cross

With the daily MACD firmly bullish, the 2-day MACD has also completed a bullish crossover today. This is another confirmation that the momentum is changing to the upside. This could be the start of a sustained recovery after April’s losses.

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