XRP at $0.7? The price makes an unexpected movement

XRP at $0.7?  The price makes an unexpected movement

The latest XRP price action was quite unexpected considering the nature of the market in the first few days after the holiday season. A detailed look at the graph reveals that the XRP/USDT chart is about to make a potentially significant move. The asset, which has had a slower start through 2024, especially compared to Ethereum’s focus on its local resistance level, could be setting the stage for a notable price surge.

The latest XRP price action was quite unexpected considering the nature of the market in the first few days after the holiday season. A detailed look at the graph reveals that the XRP/USDT chart is about to make a potentially significant move. The asset, which has had a slower start through 2024, especially compared to Ethereum’s focus on its local resistance level, could be setting the stage for a notable price surge.

XRP price is currently at the tail end of a descending triangle, a technical chart pattern that traders often associate with the continuation of the previous trend. However, in this case, XRP made an unexpected maneuver, breaking the upper boundary of the descending triangle. This move could be interpreted as a bullish signal, suggesting a change in market sentiment and possibly providing the impetus for a rally towards the $0.7 mark.

XRP Chart
XRP/USDT chart by TradingView

The descending triangle is usually formed by a flat support line and a downward sloping resistance line. A break above the resistance line is significant because it negates the bearish bias of the pattern. For XRP, this advance indicates that buyers are gaining strength and could push the price higher, particularly if the advance is accompanied by an increase in trading volume, which would add credibility to the move.

Related
Bitcoin (BTC) Targets $70,250, According to This Indicator

Currently, XRP is trading above its moving averages, which is a positive sign for the bulls. The 50-day moving average has served as dynamic support, boosting the price on recent pullbacks. The Relative Strength Index (RSI) is situated at the midpoint, suggesting that there is room for an upward price movement before the asset becomes overbought.

On the other side of the market, Ethereum has also approached a local resistance level. A break above that level for Ethereum could have a cascading effect, energizing other altcoins, including XRP.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة