XRP Breaks Right Through Long-Term Resistance

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In Brief
  • -XRP has broken out from its May highs at $0.23, targeting the next resistance at $0.27.

  • -The price has been increasing alongside a parabolic ascending support line since July 16.

  • -XRP is likely in the fifth and final wave of an Elliott formation.

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On July 28, the XRP (XRP) price broke out from a long-term resistance area that had previously been in place since March 2019. As long as the price is trading above this level, the trend is bullish, with XRP likely to move towards the next resistance area outlined below. XRP's Long-Term Breakout Since the beginning of March 2019, the XRP price had been trading below the $0.230 area.

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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