XRP Price Analysis: Bull Run Foreseen on XRP/USD Past $0.25 in Tandem With Ripple’s First (DLT) ISO 20022 Membership


*At the moment, XRP is breaching the $0.2200 level of resistance against the US dollar
*Last week, with Bitcoin exceeding $9,400, XRP surpassed $0.23, displaying resilience despite a global downtrend
*Ripple declares to be the first DLT-focused member of the global ISO 20022 standards body

XRP/USD Daily Chart

Out of a technical point of view, the RSI reveals the continuing horizontal activity may persist for some time. After a modest rebound from 43, the indicator rallies horizontally at 65. The moving averages and the confluence of the triangle tank momentum at 0.2200, stress the same horizontal trend also implies the bearish pressure should never be disregarded.

XRP/USD 4-Hour Chart

The near term support area of $0.2150 serves as a strong buy zone on the downside. It is similar to the upward movement’s 50 percent retracement level from the low at $0.2070 to the high of $0.2357. If the bears excel in breaching the $0.2070 support, there is a risk that the $0.2000 currently rendered support zone may also be broken.

Image Credit: Shutterstock

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