XRP Price Battling Resistance, Bulls Could Push It Another 5%

The $XRP price has printed a series of higher highs and higher lows over the past 48 hours, resulting in the formation of a positive price channel. Now, the remittance token is attempting to overcome the $0.5020 resistance level. A 4-hour candle close above this threshold might give the crypto the foundation needed to keep rising in the short term.

Traders could subsequently look to enter into a long position for Ripple. With this potential buy pressure, the #XRP price might end up climbing to as high as $0.5267 in the short term. However, a rejection by the $0.5020 barrier in the coming 8 hours could invalidate this bullish thesis.

The XRP price might then stand the risk of correcting to the subsequent support level at $0.4840 in the following 24 hours. Continued sell pressure should #Ripple fall to this mark could lead to the altcoin plunging to as low as $0.4685.

Technical indicators on XRP’s 4-hour chart suggest the Ripple price might continue to rise in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing bullish signs. #TrendingPredictions #BullorBear The full analysis was originally posted on ecoinimist.com.