XRP Price Climbs Above Crucial 50-Cent Mark

XRP's price surged past $0.50 today, driven by a bullish divergence on the Relative Strength Index (RSI), marking a pivotal movement that could define

XRP's price enjoyed a bullish day on Friday, surging past the $0.50 mark. This pivotal movement was fueled by a bullish divergence on the Relative Strength Index (RSI), setting the stage for XRP's next price trajectory. Resistance awaits at the 50-day moving average, promising further potential for gains if bullish momentum prevails.

As XRP's price ascended past $0.50, it marked a crucial psychological and analytical level in its price movement. Notably, a bullish divergence in the RSI preceded the uptick in the price of the seventh-largest cryptocurrency by capitalization, U.Today reports.

In technical analysis, this pattern forms when the price of an asset makes a new lower bottom while the Relative Strength Index prints a higher low, indicating decreasing downward momentum.

With prices now in a downtrend, this divergence suggests easing selling pressure, which could pave the way for a potential price reversal.

Indeed, on the four-hour chart of XRP's price, the bullish divergence occurred as XRP price hit a local low of $0.492, preceding the token's 24-hour涨幅最高达4.5%。

Peering ahead, the next significant test will be to breach resistance at $0.515, where the 50-day moving average currently resides. If bearish momentum subsides and XRP price remains bullish, the next critical test will be there.

Alternatively, if the divergence was昙花一现 and the only gains that bulls can expect for now are the ones we saw today, XRP price will either consolidate around fifty cents per token or continue rising slowly.

On the other hand, if the bears step in, the token's price might attempt to return to the local low, which is around $0.49 per XRP.