The Ripple XRP price has reached a weekly close above the $0.55 horizontal resistance area.

During the increase, XRP also broke out from a nearly 100-day descending resistance trendline. Will the price continue increasing toward $1?

XRP Finally Closes Above Long-Term Resistance

The weekly technical analysis for XRP shows that the price has increased alongside an ascending support trendline since June. The price bounced at the trendline in March (green icon) and reached its yearly high of $0.94 in July.

During the increase, the XRP price broke out from the $0.55 horizontal resistance area. After falling below it in August, XRP began another upward movement and reclaimed the area last week.

The XRP price weekly close of $0.56 was the first above this area since XRP fell below it in August.

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Author: Valdrin Tahiri

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