The crypto asset linked to Ripple, known as $XRP , has effectively broken through a bearish trendline that had been weighing on its price. Additionally, it has crossed a crucial resistance threshold that had contained its advance since the end of last April.
This technical break is interpreted by analysts as a clear indication of a possible shift in price direction, placing XRP in a favorable position to experience greater increases in the short term.
This optimistic outlook is firmly supported by the behavior of the Relative Strength Index (RSI) of the altcoin. At the time of writing this report, this well-known momentum gauge registers a value of 54.11, evidencing a sustained upward progression.
It is worth remembering that the RSI is an oscillator that evaluates the conditions of overbought or oversold for an asset.
When situated at 54.11 and continuing to rise, the RSI of XRP constitutes a clear signal that buying strength is gaining intensity. It also suggests the possibility of obtaining greater returns on its price before the token reaches levels considered overbought by this indicator.
Additionally, the Balance of Power (BoP) indicator for XRP shows a positive result at the time of this report, currently registering a value of 0.86. This data underscores the marked bullish inclination prevailing in the market for this altcoin.
Together, these technical indicators suggest that XRP has overcome significant obstacles and may be preparing for a significant upward movement.
