- Ripple’s XRP is the best performing digital asset with over 30% of overnight gains.
- The price can continue to rise without barriers.
Ripple’s XRP is the best performing digital asset in the top 10 on Saturday. The coin has gained over 30% in the past 24 hours to trade at $ 0.40 at the time of writing. Price hit $ 0.436, highest level since July 2019, and upward momentum is gaining ground
Ripple’s market value jumped to $ 18 billion, while its average daily trading volume stood at $ 10 billion. Bullish sentiment in the cryptocurrency market and positive technical factors have pushed the coin’s price higher since the start of the week.
XRP is unstoppable
From a technical standpoint, a durable move above $ 0.33 served as a robust bullish catalyst for the coin. The price received a significant increase which pushed it above $ 0.4. With little to no obstacles on the way north, XRP / USD has the potential to revisit $ 0.45 before the end of the week.
XRP / USD, 12 hour chart
Ripple’s daily confluence chart shows several groups of bearish support levels. The first local barrier arrives as it approaches $ 0.4. This is the lowest level from the previous hour and an area of previous resistance. Once verified as support, the price will hit new highs again.
If cleared, the downward correction can be extended to $ 0.38, reinforced by 1-day Pivot Point 3 resistance. It separates XRP from a deeper drop to $ 0.35, created by the 1 week resistance of pivot point 1 and the upper line of the Bollinger Band.
XRP Confluence Levels
On the upside, local barrier is seen as $ 0.43 (Pivot Point 1-week Resistance 3) approaches. Once it is ruled out, the upside is likely to gain ground with the next focus on $ 0.45 and potentially $ 0.5.