XRP Price Close to $0.4 Resistance: Will Bulls Break Through?

• XRP has seen a 10% surge in price in the past week, bringing it close to the $0.4 resistance level.
• However, the uptrend has been halted as the price is currently attempting to surpass the 100-day moving average.
• Technical analysis suggests that a drop in price is imminent if XRP is unable to break the current resistance level.

XRP has seen a significant price increase in the past week, with the cryptocurrency climbing 10% to bring it close to the $0.4 resistance level. After four weeks of low volatility, the bulls finally pushed the price above the 50-day moving average and initiated a rally toward the 100-day moving average. However, the uptrend has been halted and the price is now attempting to surpass this level.

Technical analysis suggests that if XRP is unable to break the current resistance level, a drop in price is imminent. This would bring the cryptocurrency back to the 50-day moving average, which had been acting as resistance for several months. The next critical resistance level stands at $0.4, which, if broken, could open the door for further price increases.

On the other hand, if the bulls are able to break the current resistance level, the price could surge past $0.4 and reach the next resistance level of $0.5. This would be a significant achievement for XRP, as the cryptocurrency has been trading in a sideways range since the beginning of December.

Overall, the near-term outlook for XRP looks uncertain, as the price is currently hovering around the 100-day moving average. If the bulls are able to break this resistance level, the price could surge past $0.4 and reach the next resistance level of $0.5. On the other hand, if the bears are able to push the price back below the 50-day moving average, a drop in price is imminent. Regardless of the outcome, it is important for investors to keep a close eye on XRP’s price movements in the near-term.