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  • XRP/USD price increased by 14% on a day-to-day basis amid global cryptocurrency recovery.
  • The long-term bullish target is created by the middle line of the daily Bollinger Band.

XRP/USD jumped above $0.1700 and hit the intraday high at $0.1736, which is the best level since March 12. The coin has increased over 14% in recent 24 hours amid major bullish momentum on the cryptocurrency markets. XRP/USD has been following the general trend with no specific fundamental reasons behind the move. 

XRP/USD: Technical picture

XRP/USD has returned to the upper line of 1-hour Bollinger Band at $0.1700, however, the short-term bullish bias remains strong, which means the coin may resume the upside if $0.1700 holds. The RSI on the 1-hour chart also points upwards, lending the additional support to the bull’s case. The next short-term target is seen at the current intraday high of $0.1736, followed by psychological $0.1800 and the middle line of the daily Bollinger Band at $0.1930.

Once below $0.1700, XRP/USD may enter a consolidation phase with a low barrier at $0.1600.

XRP/USD 1-hour chart