Summary
TLDR: XRP price has increased and closed above a long-term support level, potentially leading to a significant upward movement. Technical analysis shows bullish signals, with a potential breakout predicted on the daily chart. Closing below $0.55 could trigger a downward movement to $0.47.
Key Points
1. The XRP price has increased during the past two weeks, closing above a long-term support level it had previously lost.
2. The weekly time frame technical analysis shows the XRP price has increased in the past two weeks, creating successive bullish weekly candlesticks. Last week’s close was especially important since it was made above an ascending support trend line that has existed for 460 days.
3. The daily time frame chart is bullish, suggesting a breakout will occur soon. This is because of the price action and RSI.