Ripple’s XRP token is back in an uptrend today. The token rose from $1.12 to $1.23 in a matter of hours.
The positive sentiment is back
XRP is not the only rising cryptocurrency. Almost the entire crypto market, except SHIB, is posting beautiful gains today. However, Ripple is one of the best performing cryptos today. The price increase shows that XRP is back in an uptrend.
At the time of writing, the Ripple price is around $1.20, which is a very important level. On October 31, Newsbit already wrote a message that this level is crucial to break through. If that happens, there is a good chance that the XRP price will rise a lot further in the short term.
It is positive to see that not only the price is rising today, but also the volume. In fact, 24-hour trading volume is up 55 percent, showing that there is strength behind the rally. The relative strength index (RSI) also shows a lot of buying activity. It is on an upward curve in the upper half of the neutral zone.
Will Ripple Break the $1.20 Resistance?
The Ripple chart shows that the bullish momentum is quite strong as the coin has been rising for the past 28 hours. However, the rally now appears to be suffering from the strong resistance at USD 1.20. This strong resistance could cause a small correction. But since all other indicators are positive, there is certainly a chance that XRP will finally break through the $1.20 resistance in the coming hours.