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  • XRP/USD is the best-performing cryptocurrency out of top-10.
  • The next strong resistance at $0.2800 separates us from $0.3000.

Ripple’s XRP jumped from under $0.2600 to the area above $0.2700 in a matter of hours and touched an intraday high at $0.2752. While thee coin has retreated to $0.2722 by the time of writing, it retains bullish momentum in the short run  XRP/USD has gained over 6% in the recent 24 hours and 6.5% since the beginning of the day. Currently, it is the best-performing coin out of top-10.

XRP/USD,  the technical picture

Due to a strong upside movement on Monday, Ripple’s XRP broke free from the recent range and tested the highest level since September 23. The upper boundary of the channel at $0.2600 now serves as strong support for the coin. if it is broken, the sell-off may be extended towards $0,2550 (SMA100 (Simple Moving Average) four-hour chart and $0.2500 (the lower boundary of the channel strengthened by SMA50 four-hour. That’s where a fresh buying interest is likely to appear.

On the upside, we will need to see a sustainable move above $0.2800 for the upside to gain traction. The next strong resistance is located on the approach to $0.2900 (the sloping trend line from June 26 high). It is closely followed by SMA100 daily at $0.2950 and a psychological $0.3000.

XRP/USD, the four-hour chart