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XRP Price Analysis: XRP Price Can Observe Bull Run Of 70% In Upcoming Days

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  • XRP price has given a golden crossover on the daily chart. Meanwhile, the XRP/BTC pair falls ahead by a gain of 0.92%
  • Technical indicators for the XRP suggest a bullish momentum with the price heading for the resistance of $0.80
Source:XRP/USD on Tradingview

XRP price is currently at a value of $0.4716, with a gain of 4.22%. XRP will face resistance at $0.60, and on the downside, it can see a bounce back from the value of $0.35. It is trading above 50 and 100 Moving average. The 50MA (blue line) is at $0.458, making it temporary support for the coin. There is a golden crossover in the Moving Average which showcases that the price will see a bull rally in upcoming days.

If we look at the daily chart of the XRP, one finds that if we join the daily high, then a line is formed with a slope of 158. If we replicate this slope on the next line, we find that the price follows the same line. If the coin crosses 10% above the line, then a rally of 70% can be seen. The targeted price can move up to the level of $0.80.

XRP is currently ranked 7th, with a market capitalization of $21,446,928,386. Its volume ($4,839,253,914) has seen a change of 78.38% in the 24-hour time frame.

TECHNICAL INDICATORS SUGGESTS A BULLISH MOVE FOR XRP PRICE

Source:XRP/USD on Tradingview

XRP has given more than 147% return from the start of this year. The coin price has spiked from $0.26 to $0.68 in a mere span of 3 months. The weekly chart shows positive momentum, but it’s still a long way to go. In the shorter time frame of the 4-hour chart, it has formed an accumulation zone. There is a 70% surge  remaining in xrp before it sees a lower level. If the price goes down to 8% of the accumulation channel, it would be difficult to retrace back. If the price goes above $0.57, it can go to $1.0.

RSI(Bullish): It is trailing at the value of 55.87, showcasing its presence in the bullish zone There is a positive slope formation in RSI, highlighting that the price movement  will be positive in the upcoming  trading sessions. The overall sentiment of the RSI is bullish.

XRP PRICE LOOKING FOR A BULLISH MOVE

XRP has seen various ups and downs since last year. Its Price is currently seeing an uptrend but can reverse its position in the upcoming trading session. XRP/BTC pair is performing negatively with a loss of 0.9%. An Investor should do their due diligence before investing.

TECHNICAL LEVELS

Major Support:$0.35

Major Resistance:$0.57

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