XRP/USD jumps above 50DMA, pushes through $0.80 resistance

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  • XRP/USD up over 25% during trading on Friday
  • $0.80 resistance taken out
  • Next target will be phycological $1.00 level

 

The Ripple price is continuing to storm ahead, up as much as 25% during trading on Friday. The price gained further momentum taking out resistance that had been holding around the $0.80 area, also where the 50DMA was seen.

Recovery has been strong for XRP/USD from the lows earlier in the week, at $0.57, up over 60% since these lows were produced. Investors will be optimistic that there can be a good road of retracement for the crypto, although, it is still 250% away from its highs on the 1st January at around $3.40

Looking technically, next target will be to reclaim the phycological $1.00 mark once again, after clearing $0.80 resistance. Firm support for XRP/USD, will now be the initial resistance, which will sit at $0.80, 50DMA.

 

XRP/USD 4 hour chart

 

 

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