Previously, Ripple (XRP) successfully climbed above $0.245 resistance. After that, it reached the $0.26 resistance level on the 200-day EMA.

At the time of writing, the crypto is trading above $0.25. This current ascending price level for the first time in six weeks suggests that the crypto is enjoying a short-term bullish market.

What’s the Role of $0.2450?

A level close $0.2450 previously acts as a resistance for XRP. Now, it acts as a major support area.

In the case that there will be a downside break under the $0.2450, then a larger decline is possible in the next few days. Then, the next support will be close to $0.2420 and the 100-hour SMA.

On the other hand, if the XRP bulls fail to protect and maintain the price above the 100-hour SMA, then the crypto asset will continue moving down to a $0.2320 support level.

XRP Soon to Welcome $0.30 Level

Following the formation of support level close to the $0.23 zone, XRP ends up with a new increase. In fact, the crypto’s price successfully overcome a lot of barriers close to the $0.2450 and $2320 regions so that it could enter another positive price level.

According to other crypto analysts, if the XRP bulls can break the price above $0.26 in the 200-day EMA, then the initial resistance will be at 0.274. Above that level, the resistance will settle at $0.289, $0.30, and $0.317 levels.

However, if the bulls fail to push that level, then the initial resistance level will be $0.245, which was the January resistance. Beneath that level, the support will settle at $0.234, $0.227, and $0.217.

Although the RSI stays above the 50 levels, which makes that the bulls still have control over the market, still the Stochastic RSI has started approaching. Not only that, the bearish crossover can possibly lead to correction retracement.

XRP’s Clear Uptrend Existence

According to the crypto trader Galaxy, XRP seems like ready to rally about 20$% and even higher towards the $0.28 level. This price level suggests a clear uptrend existence. Not to mention that the cryptocurrency has aggressively tumbled a lot of key resistances, which resulted in a bullish pattern.

Other than Galaxy, another analyst expressed a sentiment over the next surge of XRP. Credible Crypto noted that there’s a clear similarity in the price action of the crypto back in January 2018 and that of BTC back in February 2019.

During that period, Bitcoin overcomes the two resistance retests and two resistance support before it finally breaks above the wedge. As for the XRP, it traded in a similar pattern.

Following the exact trajectory of Bitcoin will result to another inbound dip, so the price of XRP will likely burst after the aforementioned dip. In fact, it could surge beyond $0.30.

In the coming weeks, analysts expect XRP to target the Fib retracement of 0.382 so that it could rally towards $0.30, which is about a 30% increase.