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What is the correct entry level as XRP prepares for the 20% jump?

What is the correct entry level as XRP prepares for the 20% jump?

XRP, one of the most popular altcoins on the cryptocurrency market, rebounded strongly on March 21 from a monthly resistance level of $0.43, providing a good entry opportunity for interested investors. The most popular altcoin has gained 7.4% in the past 24 hours and is trading at around $0.45 at the time of writing. Under the influence of prolonged consolidation, buyers may be able to pull the price back toward overall resistance. Therefore, now might be a good time to enter.
Between $0.43 and $0.41 is a strong accumulation zone for buyers. An uptrend from $0.43 could push the price to the resistance level of $0.55.

XRP's intraday trading volume was $1.68 billion, representing a 25 percent increase.
Price action over the past ten months has shown a sideways movement in the price of XRP. During this range rally, the $0.3 support level acts as a selling peak and the $0.55 resistance level acts as a buying peak.
During the recent rally in the cryptocurrency market, the price of the most popular altcoin bounced off the $0.3 support level and recently broke through the intermediate resistance level of $0.43. If the weekly candle closes above that resistance, buyers will have a huge advantage to continue the rally.
The bullish cycle inside the rally range has the potential to push the price of this altcoin to the resistance levels, located at the peak of buying. Thus, with continued buying, the XRP price could reach a resistance point at $0.55, a 20% increase.

Interested traders may look for entry opportunities around $0.43, as XRP could experience a small pullback to break the resistance level and test price stability.
Either way, a breakout of the $0.55 resistance level is necessary to turn the sideways trend into a sustained bullish one.

Technical Indicators


Relative Strength Index: The weekly slope of the RSI has reached 56% and last peaked in November 2021. The indicator has risen above the midline, indicating that market sentiment is favorable for a long-term recovery rally.
EMAs: XRP prices have experienced strong supply pressure from the 50-day and 200-day EMAs, indicating that a small correction is more likely.
Resistance points for XRP are at $0.55 and $0.7, and support points are at $0.43, $0.41 and $0.3.
Important Notice: The material provided is for informational purposes only and does not constitute investment advice. The Rao Cash editorial team is not responsible for your financial decisions. Cryptocurrency assets involve high risks — conduct your own research (DYOR).

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