XRP Turn Around: Price Bounces Back Signaling Upward Trend
15 Novembre 2023 - 5:00PM
NEWSBTC
XRP experienced a significant decline over the past week due to
unprecedented market whirlwinds. However, the crypto asset has
regained bullish momentum from this dip, signaling an upward
trajectory. XRP Experiences Rebound After Plunge XRP daily chart
has shown resiliency recently, pulling off a noteworthy rebound
following a drop that unnerved traders and investors. The chart
shows that the cryptocurrency is speedily recovering from its fall.
The recent price movement indicates that XRP might be approaching
the $0.70 mark. The token’s capacity to stay above the 50-day and
100-day moving averages indicates a bullish outlook for the asset.
According to the chart, XRP may be ready for a run at the next
resistance level, around $0.65, if it can sustain above the $0.60
mark. If the token manages to go past $0.65, the $0.70 mark seems
plausible. Related Reading: XRP Price Prediction – Breaking This
Resistance Could Spark Fresh Rally These averages are significant
pointers frequently pointing to the market’s long-term prospects.
The fact that the price of XRP is rising above these lines
indicates that the market is very confident. In addition, the
digital asset’s RSI has leveled off following a brief excursion
into the overbought area. This suggests that the recent price
rebound was sustained market interest rather than a fluke. The RSI
returns to neutral levels without a notable price decline, sparking
possible future growth. XRP’s market is on an uptrend; the token
seems to have benefited from these positive market emotions by
raising its price. The price of XRP is growing and might keep
rising, per a crypto analysis by ProSignalsfx on TradingView.
Nonetheless, the crypto asset is still relatively down from the
$0.75 price mark it experienced on November 13. This was due to a
false report shared by an X user about an exchange-traded fund
(ETF) filing by BlackRock. However, the crypto experienced a price
correction immediately after the report was debunked. The
Crypto Asset Is Set To Do Well In The Next Bull Run According to
crypto influencer BoringSleuth, since XRP has no ties to the
Chinese Communist Party (CCP), its price could gain impressively
from the bull market. The influencer believes cryptocurrencies not
connected with the CCP will benefit from the next bull run. “The
protocols that weren’t in bed with the CCP will be the benefactors
of future bull cycles. A protocol like DAG, which works with the
DOD is one example of a well-positioned protocol. XRP is another,”
he stated. Related Reading: John Deaton Bullish On Ripple’s
XRP; Analyst Bullish on Pepe and New Token The crypto asset trades
at approximately $0.639, indicating a 1.17% decline in the past 24
hours. Its market capitalization is currently at $34,288,273,612,
indicating the same percentage decline in the past 24 hours,
according to CoinMarketCap. Featured image by iShock, chart by
Tradingview.com
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