On September 6, 2019, the XRP price reached a low of 2366 satoshis. It soon began an upward move and reached a high of 2560 after two days. It traded near this level until September 16, when a rapid breakout ensued. XRP increased by roughly 20% in less than two days, reaching highs above 3000 satoshis.

XRP Price: Trends and Highlights for September 18
- XRP/BTC broke out from a descending resistance line.
- The weekly MACD has made a bullish cross.
- There is resistance at 3350 satoshis.
- The short-term RSI has generated bearish divergence.
Bullish Cross
The rapid increase discussed in the introduction triggered a bullish cross in the weekly MACD.
Descending Resistance Line
A look at the daily chart shows that XRP had been following a descending resistance line since July 1st.

Short-Term Movement
Looking at the hourly chart, we can see that the upward move transpired with very significant volume.


XRP Price Summary
The XRP price recently broke out above a descending resistance line. According to our analysis, it is likely to eventually reach the resistance area at 3350 satoshis. For hypothetical trading purposes, even though we believe that XRP will increase, the extremely steep slope of the upward move makes it impossible to initiate a profitable trade at the current price level. If it were to retrace, XRP would be considered a buy closer to 2800 satoshis. Do you think XRP will reach the resistance area? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingVie
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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