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The Ripple made good profits for holders of the cryptocurrency XRP, as the cryptocurrency soared almost 800% and this week approached the $ 2 level in the early hours of April 14.

In addition to reaching its highest level since January 2018, this robust price increase signals that investors are not concerned about the current SEC dispute over the offering of unregistered securities.

On the technical level, we note that XRP remains bullish for now as long as it is above the 21 SMA and above the 4/8 murray pivot.

We recommend buying at the break of the symmetrical triangle with targets up to 1.9531 and 2.34.

On the contrary, a consolidation below 1.5625, we expect a correction to the 200 EMA located at 0.8070.

Support And Resistance Levels For April 15 – 16, 2021

Resistance (1) 1.9515

Resistance (2) 2.0492

Resistance (3) 2.1537

Support (1) 1.5574

Support (2) 1.3655

Support (3) 1.1609

The material has been provided by InstaForex Company – www.instaforex.com

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