Ripple’s XRP will jump to $0.82 once it clears a sloping trendline at $0.6. A move below $0.5 will invalidate the bullish scenario. Ripple’s XRP is changing hands at $0.57 at the time of writing, having gained over 10% on a day-to-day basis. However, despite the recovery, it is still 9% down on a weekly basis. The coin hit the multi-year high at $0.7824 on November 24 before speculative accounts started cashing out their profits and pushed the third-largest digital asset price below $0.6. XRP market value has settled at $25 billion, while its average daily trading volume exceeds $11 billion. XRP upside momentum is capped by $4 On the 4-hour chart, XRP’s recovery is capped by $0.6 created by a sloping trend line of the symmetrical triangle pattern. This barrier is also reinforced by a combination of the 50 and the 100 EMA in the same timeframe. Only a sustainable move above this significant technical hurdle will improve the short-term technical picture and allow for an extended recovery with the initial target at the psychological $0.7 followed by $0.82, representing a 38% increase from the breakout level. XRP 4-hour chart On the other hand, a rejection from the critical resistance will bring $0.5 into focus. This psychological support coincides with the December 9 low and the lower line of the triangle. Once it is broken, the downside momentum will gain traction and bring XRP to the next local barrier at $0.45 created by 4-hour 200 EMA. Meanwhile, the ultimate bearish target comes at $0.31, which is a measured move from the triangle formation. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Brexit: UK’s Mordaunt says it is clear that they remain far apart with EU FX Street 2 years Ripple's XRP will jump to $0.82 once it clears a sloping trendline at $0.6. A move below $0.5 will invalidate the bullish scenario. Ripple's XRP is changing hands at $0.57 at the time of writing, having gained over 10% on a day-to-day basis. However, despite the recovery, it is still 9% down on a weekly basis. The coin hit the multi-year high at $0.7824 on November 24 before speculative accounts started cashing out their profits and pushed the third-largest digital asset price below $0.6. XRP market value has settled at $25 billion, while its average daily trading volume exceeds $11 billion.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.