XRP is about to break $ 0.65

• Ripple’s price is bounded within a descending triangle pattern on the 4-hour chart.
• The digital asset is on the verge of a 20% gain if a key resistance breaks.
• The TD Sequential indicator has presented a buy signal that gives credit to the bulls.

After a significant rally from the recent bottom of $ 0.30, the XRP has managed to hit $ 0.64 again thanks to an initial pump that started on January 30 from the WallStreetBets community on Reddit. The fluctuation price is ready for another stage as the technicians yell to buy.

Ripple’s price may rise towards $ 0.65 if this key barrier

On the 4-hour chart, XRP has established a descending triangle pattern with a resistance level located at $ 0.544. A break above this level would propel Ripple’s price up to $ 0.65, a 20% gain determined by the height of the pattern.

4 hour chart

On the 9 hours chart, the TD Sequential indicator has presented a buy signal on the 9 hours chart and has just crossed above the 26 EMA support level. Closing above this point would add even more credibility to the previous bullish outlook.

9 hour chart

On the other hand, it appears that traders have taken advantage of the recent price spike to sell off their holdings of XRP. The number of big headlines with at least 10,000,000 XRP ($ 3,000,000) has dropped 10% in the last two weeks.

Media distribution

This indicates that some traders do not believe that XRP can continue to rise in the near future. A rejection of the key resistance level at $ 0.544 on the 4-hour chart can cause Ripple’s price to drop rapidly to $ 0.512.

4 hour chart

The resistance barrier at $ 0.544 also coincides with the 50 SMA. Losing the support level of $ 0.512 will push Ripple’s price to $ 0.40.