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Ripple’s price demonstrates a willingness to rally higher on both the USDT and BTC pair.
Yet, there are still some significant levels the market should overcome.
By TradingRage
The USDT Paired Chart
On the USDT pair’s daily timeframe, the price broke above the 200-day moving average (located around the $0.55 mark) yesterday, following a swift rebound from the $0.5 level. Yet, the $0.6 resistance zone prevents the market from rallying higher.
Meanwhile, the RSI has risen above the 50% threshold, indicating a bullish market momentum shift. As a result, if the price keeps above the 200-day moving average, a rally above $0.6 could be expected in the short term.
The BTC Paired Chart
On the BTC paired chart, things seem quite similar, with the market rising above the 200-day moving average, currently located around the 850 SAT mark. The price action has been bullish recently, with the key 800 SAT level broken to the upside.
Therefore, the price will likely rise toward the 1200 SAT area in the coming weeks, as XRP looks set on beginning a bullish trend against BTC.
This article first appeared at CryptoPotato
