As of this time of writing, XRP is currently holding on to the support level at $0.60 since the start of the trading session today. Even though the price is now as high as $0.58, the digital asset saw the bears pull it down to trade at $0.50. With the price of the asset in this region, it means that the digital asset has largely been unchanged since yesterday.
As it stands now, XRP is currently trading in a very tight corner, with the digital asset hoping that traders would be able to trigger the bulls in its favor. With XRP presently hoping to recover and move far above the new resistance level at $0.60. If the digital asset moves up above the upper channel, then it could go very high in the market.
XRP yet to clear the $0.60 resistance level
Previously, the asset has cleared the $0.55 resistance level before resting at where it is now. Even though it was very easy for the digital asset to clear that level and touch $0.60, it would not have it easy this time. According to analysts, the asset would need the bulls and traders to be able to trigger a boost up to above $0.60.
The bulls have been saddled with pushing the asset back on top as its Relative Strength Index shows that the digital is trying to move above the 60 level. The asset is doing well at the moment, trying to build up from the previous fall that it suffered some months ago.
If the coin eventually pushes up above $0.65, it would have to clear the $0.70 zone before going on to breach above the $0.75 resistance level. On the other way, a move downward could push the digital asset to touch the $0.45 support level before touching the $0.40 level. If the bears establish their presence, the asset could be able to touch the $0.35 level.
Against leading asset, Bitcoin, the digital asset is taking a beating as it is going down to stay around both moving averages. Meanwhile, the bulls have tried unsuccessfully every time that they try to push the price of the asset back into the upper boundary of the channel. If the bulls put in more effort, they could see the price of the asset touching the 1150 Satoshi resistance level. On the other way, if the coin continues with its trade pattern, the digital asset could go down to trade at 750 Satoshi level. With the Relative Strength Index showing that the asset is currently around the 55 level, the bears may have gained ground in the market.