Ripple Price Movement and Cryptocurrency Trends
Ripple’s price is finally on the rise, following the all-time high values of Bitcoin. However, there is still a major obstacle that the market must overcome before a long-term rally begins. On the XRP/USDT pair’s daily chart, the asset has been rallying impulsively over the last few days, breaking above the 200-day moving average around the $0.55 mark.
The price is currently struggling to break past the significant $0.7 resistance level, with the RSI showing a massive overbought signal. For a bull market to commence in the coming months, the market needs to break above the $0.7 area. When it comes to the XRP/BTC chart, it is not showing a similar uptrend to the USDT one.
The asset has bounced from the 700 SAT support zone and is currently testing the 200-day moving average near the 800 SAT resistance level. For Ripple to outperform Bitcoin in the coming months, a breakout above the 800 SAT resistance zone and the 200-day moving average is crucial. Otherwise, a drop back towards the 600 SAT support area and even lower could be expected.
