XRP Price Skyrockets with Bitcoin Price Reaching New ATH
The Bitcoin price successfully reached its all-time high, as it breaks a key resistance level above $20,000. Major altcoins are following the flagship crypto, XRP price finally managed to mark an impressive daily rally as its price is now resting at around $0.56.
Even Ethereum Price is showing massive gains with 10% surge trading at $642.46. Major Altcoins also seem to follow the Bitcoin Rally, XLM, LTC, XVG, and other alts seem bullish.
XRP Price Analysis
Despite the newest price spike thanks to Bitcoin’s new all-time high, XRP still trades inside a daily downtrend and hasn’t been able to recover the 26 EMA support level. Bears remain in control as there is very little support to the downside.
However, in the short-term, bulls might see further upside action as the TD Sequential indicator has just presented a buy signal on the 4-hour chart. The MACD also turned bullish, which adds credence to the signal.
A clear break above the current levels can push the price further to $0.6 and $0.7 levels. It may revisit $0.73 resistance if the price continues to increase.
If XRP sees another selloff, it may slip to $0.458. A drop below this could send the price further to $0.4 and potentially $0.33, where it broke out in November. The RSI and MACD are currently low, suggesting bears are still present.
Overall, the XRP/USD prices have defied consolidation from the record high and are likely heading north for the fresh top.
- Support levels: $0.44 and $0.30,
- Resistance levels: $0.60 and $0.72
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