XRP has risen since November 4, fueled by bullish market sentiment
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
This rise in activity coincides with a broader market boom that saw Bitcoin reach $82,000 for the first time in its existence. Bitcoin reached a new all-time high of $82,444 on Monday, driving demand for other altcoins, which have also broken through their respective resistance levels.Bitcoin Might Still Crash to Zero, Top Angel Investor Claims
In Sunday's trading session, XRP witnessed a sharp price increase rising from lows of $0.55 to highs of $0.613, forming a massive green candlestick.Currently, XRP has given up the majority of its daily gains as bulls hit resistance at $0.613. At the time of writing, XRP was just up 0.29% in the last 24 hours to $0.586 and up 15% weekly.
XRP is showing worse performance among the top 10 cryptocurrencies both on the daily and weekly time frames, raising the question of whether bulls are preparing to spring surprises, as traders might be poised to take profits off the market in the aftermath of the current rally.Noteworthy, the XRP price has formed a golden cross on its four-hour charts, hinting at the possibility of price gains in the very short term if this signal is validated.
XRP rose to highs of $0.618, but bulls were unable to continue the move, and the price fell to lows of $0.57 in today's trading session. may fall to $0.53, which is expected to attract buyers. If the XRP price recovers from this critical level with power, bulls might make another attempt to take XRP to $0.64.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$1 Billion XRP in 24 Hours: Why Is XRP Price Still Down?This recovery has not yet been mirrored by XRP
Read more »
$1.47 Billion XRP in Day: XRP Price Makes Epic ReversalXRP in spotlight as market makes major move
Read more »
XRP Skyrockets 14,134% in 24 Hours in Abnormal Liquidation ImbalanceXRP price faces massive shake-up as bullish futures buyers suffer massive liquidations
Read more »
Mysterious $800 Million XRP Withdrawal Stuns Top South Korean ExchangeWhopping 1.586 billion XRP vanished from Bithumb, sparking questions about massive internal transfers
Read more »
Gigantic XRP Whale Birthed With 104 Million XRP ShiftWhale's entry into market comes at pivotal time
Read more »
XRP gains nearly 2%, Ripple CTO says: Nothing on XRPLedger can move without XRPRipple (XRP) is back above $0.5300, early on Tuesday. The native token of the XRPLedger extended its gains after statements by the firm’s Chief Technology Officer (CTO) David Schwart, in a series of tweets on X.
Read more »