The crypto markets are currently caught within an intense uptrend that echoes the feeling of the early stages of the 2017 rally, with altcoins like XRP and others following Bitcoin’s lead and posting massive gains on a daily basis.
XRP, which was one of the worst performing major altcoins in 2019, is now shaping up to see an amazing 2020, with the crypto being on the cusp of breaking above a historically significant level.
Furthermore, it’s latest rally has also allowed it to break above an intense multi-year descending resistance level that had been suppressing its price action, leading some analysts to expect a parabolic movement in the near future.
XRP is About to Fly Past $0.30 as the Crypto Market Grows Bullish
At the time of writing, XRP is trading up just under 8% at its current price of $0.299, just a hair below the $0.30 level, which has long been a psychologically important level for the cryptocurrency.
If it is able to break through the apparent resistance that exists at this price region, it is highly probable that its momentum will reach a boiling point and potentially balloon in size as investors begin rushing into positions.
Smokey, a prominent trader on Twitter, explained in a recent tweet that XRP’s USD trading pair is breaking out of a bullish diamond pattern, and that he anticipates the crypto to begin catching up to other major altcoins.
“XRP: BTC Pair level defended on a closing basis and really nice bounce, USD Pair breaking out of the diamond pattern. Beautiful stuff. Expecting XRP to want to catch up with other majors,” he explained while referencing the charts seen below.
$XRP
Heyho
BTC Pair level defended on a closing basis and really nice bounce, USD Pair breaking out of the diamond pattern.
Beautiful stuff. Expecting XRP to want to catch up with other majors. pic.twitter.com/SMocyrlIzM
— TraderSmokey (@SmokeyXBT) February 12, 2020
This Rally May Soon Turn Parabolic
In addition to being bolstered by strong technical formations, the crypto was also able to break above a key descending resistance level that had previously been hampering its price action.
Galaxy, another prominent cryptocurrency analyst on Twitter, explained in a recent tweet that the break above this level is “where the fun starts.”
“This is where the fun starts for XRP,” he said while referencing the trendline seen on the below chart.
This is where the fun starts for $XRP. pic.twitter.com/IzNIGhlGD9
— Galaxy (@galaxyBTC) February 12, 2020
Because the crypto markets are in what appears to be the early-stages of a bull-favoring macro trend shift, it does seem as though altcoins like XRP could soon see significantly further momentum that allows them to put some significant distance between their year-to-date lows.
Featured image from Shutterstock. origin »
XRP continues to maintain its spot as one of the leading cryptocurrency assets in the crypto market today after witnessing a notable rally starting the day at the $0. 64 price mark, putting it in the limelight.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
The 1-day and 1-hour timeframe price chartThe post XRP's rally to 0.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
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How could this impact the next rally?
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XRP underwent an extremely strong rally at the end of November. The cryptocurrency, as many remember, surged around 100% in the span of three days amid one of the most rapid bouts of price action in a high-cap crypto-asset since the 2017 rally.
XRP has gained approximately 50% in the past two weeks, following Ethereum on its steep rally higher. Analysts think the altcoin is poised to move higher should it break a critical resistance. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, ETH’s DeFi Space Still in Vogue XRP Breaking This Pivotal Rally Could […]
XRP is in the throes of an intense rally that has allowed the crypto to climb up to highs of $0. 27, with today’s rally marking an extension of the bullish momentum that was incurred yesterday when it surged up to $0.
Yesterday proved to be a positive day for many cryptocurrencies, as Bitcoin’s fleeting rally allowed most major altcoins to post gains of 3% or more. XRP, which has been struggling to gain momentum over the past few days, attempted to break back into the $0.
Bitcoin appears to be settling into a tight range and the completion of the most recent relief rally has traders wondering when bulls will regain momentum
The XRP price has been correcting the entire year. While it showed some signs of a reversal in September, the rally lost its power and the price has retraced fully. The price has reached a significant support area, which is possibly a make-or-break level for the bullish outlook to remain intact.
Although all eyes have been on Bitcoin as of late, it may be time to pay some heed to altcoins like Ethereum and XRP. According to a recent analysis of the ETH/BTC chart, Ether may soon rally by over 100% against the leading cryptocurrency Bitcoin, with technical and fundamental factors supporting a rally in this.
Bitcoin crossed above a key resistance and several altcoins appear on the verge of a short-term breakout, suggesting the Santa Claus rally is about to start
Ripple price is slowly rising and it is now trading above $0. 1950 against the US dollar. The price seems to be lacking bullish momentum above the $0. 1980 and $0. 2000. There is a key bullish trend line forming with support near $0.
Two years ago, as Bitcoin inched closed to the $20,000 valuation, several altcoins joined the rally. None more so than XRP, the premier payments-centric cryptocurrency enjoyed a massive high in late-2The post XRP at crossroads: 30% uptick or gloomy lows of $0.14? appeared first on AMBCrypto.
Ripple, Inc. unlocked its monthly escrow, raising more questions about the performance of XRP. Over the course of 2019, the token has underperformed, also losing hopes of an end-of-year rally. XRP Long-Term Holding Still Won’t Pay XRP is still down around 30% this year, as 2019 nears its end.
Ripple price is currently correcting from the new monthly low of $0. 2005 against the US dollar. The price might correct further higher, but the $0. 2270 resistance is a crucial hurdle for buyers.
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Ripple has been in a brutal downtrend for nearly two years. Trader Peter Brandt predicts that the cryptocurrency will bottom out as soon as it completes the diamond pattern. Other traders are bullish on XRP as the cryptocurrency posts a solid rally to take out the resistance level mentioned by Brandt.
Bitcoin, along with many other cryptocurrencies, especially Chinese ones, has exploded over the weekend on China’s intention to explore the potential of blockchain. However, Ripple’s XRP is trading relatively at the same level as last Monday.
Ripple price is rising slowly and it is still below the $0.3150 resistance area against the US dollar. The price is facing a lot of hurdles on the upside near the $0.3120 and $0.3150 levels. There is a key bullish trend line forming with support near $0.2950 on the hourly chart of the XRP/USD pair...
After a long bullish rally at the start of 2019, the collective crypto-market collapsed on 23 October, a collapse which saw the top virtual assets recording some major depreciation. When compared to top assets like Bitcoin or XRP, Cardano suffered significantly at the hands of the bears after it fell by over 11.
XRP has been one of the best performing cryptocurrencies in recent times despite its lackluster price action throughout the first half of the year, and its recent series of surges have brought its price to just below its historical resistance level around $0.
XRP gained 36% over the past 23 days, the strongest bullish move in over a year. However, fundamental metrics show decreasing transactions with decreasing active addresses over the past year, despite the numerous RippleNet partnerships and announcements.
Ripple price is climbing higher and it recently surpassed the $0. 2950 resistance against the US dollar. The price is moving towards $0. 3000 and it could rally sharply above $0. 3020. There is a rising channel forming with support near $0.
XRP despite exhibiting any significant price rally in 2019 managed to hold its third spot on the CoinMarketCap ranking. The altcoin was trading at $0. 276 at press time, having seen a 1,93% rise on the 24-hour price chart.
Ripple price is currently correcting gains after setting a new weekly high at $0. 2872 against the US dollar. The price is trading below the $0. 2800 level and it might correct towards the $0. 2720 support.
Another one study by Coinstelegram Research (CTM Research) gives reason to believe that the dominance of bitcoin in the cryptocurrency market is weakening. In the near future, it may continue to fall, and this will give ETH, XRP and Litecoin the opportunity to start a rally.
After facing a sharp sell-off yesterday, Bitcoin was once again able to find support within the upper-$7,000 region, and its recovery back above $8,000 has triggered a notable XRP rally, which is sparking hopes that the next “altseason” is inbound.
Ripple is showing steady growth, adding almost 10% in price over the past 24 hours, will this be the beginning of a new rally for the cryptocurrency market?
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