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13 June 2021
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Altcoins

Ripple (XRP) in rising trend channel with two major hurdles ahead

After having been in a bearish trend for a few days, it seems that Ripple’s XRP is gaining some ground again. For example, it has broken a number of important resistance levels in recent hours. In addition, it now even forms a bullish pattern on the 1H graph.

Ripple (XRP) is currently worth $ 0.3906 with a decrease of 0.14% in the last 24 hours. The uptrend of yesterday managed to continue the bulls in the past hours, after which the price now somewhat consolidates. Currently, the price above the supports is trading at $ 0.3060 and $ 0.3030, including the 100-hourly Moving Average (MA) line at $ 0.3030.
Furthermore, XRP is currently a rising trend channel with support at $ 0.3064. This means that the price forms higher and higher lows. If XRP breaks out at the bottom, support at $ 0.3030 is important to keep an eye on.

At present, the most important resistance levels are at $ 0,3100 and above that at $ 0.3115. If the bulls manage to break through these resistance levels, there is a possibility that the price will rise towards $ 0.3200.

For now, however, it seems that the rate is consolidating just below the resistance of $ 0.3100. The coming hours will therefore determine which direction XRP will go. So in the event of a breakthrough, we have to look at the $ 0.1115. If the resistance persists, the supports at $ 0.3060 and $ 0.3030 are important.

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