Ripple has not experienced a noteworthy rally since last year, as the market has primarily been in a consolidation phase in recent months.
Nevertheless, the latest price movements are providing some hints and potential insights regarding what the future might hold for XRP.
XRP Price Review
By TradingRage
The USDT Chart Analysis
Recently, the price has been stabilizing near the $0.6 resistance level after breaking above the 200-day moving average, which is currently around $0.55.
The market has successfully surpassed the $0.6 resistance, and it appears poised to climb towards $0.72 if the breakout holds. The RSI readings are also above 50%, suggesting a bullish momentum and an anticipated continuation to the upside.
The BTC Chart Analysis
The XRP price has been on a downtrend since facing resistance at the 1,200 SAT zone and is now approaching the 200-day moving average, which corresponds to the 800 SAT support area.
However, the market is showing signs of recovery from the 800 SAT level, and the RSI is nearing the 50% mark. Therefore, it is probable that the market will push above the 1,000 SAT threshold in the near term.
The post Ripple Price Analysis: The Reason XRP Surged 5% Today appeared first on CryptoPotato.
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