$XRP surges to 4-month high: How soon can it hit $1? - AMBCrypto Analytics
XRP leads large-cap altcoin in gains over the last 30 days, up 36% during this period. From a technical standpoint, a retest of this yearâs high of $0.75 could be on the cards as a mid-term target if bulls can retake the short-term $0.66 target in the coming weeks.
Immediate bearish momentum has not been strong enough to create a sell signal so far, as seen by the MACD line, which came close to crossing under the signal line but avoided the crossover.
The aversion suggests that upward momentum regained strength, causing the MACD line to move away from the signal line.
The MACD line and signal line divergence on the daily chart also indicates that the assetâs price might continue to rise, as the bullish trend has been reinforced and signals potential upward movement.
In the larger timeframe, XRP/USD is trading inside a pennant pattern with a potential breakout that could see the price test the resistance of $0.90.
At press time, the XRP price was consolidating above the critical psychological $0.60 level. Still, XRP/USD could be forced back to the support at $0.56 in the coming weeks.
Speculators especially need to watch out for the 1 billion XRP token unlock scheduled for next month, which could exert selling pressure.
