HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

XRP Gains Major Support, Jumps 4% – Can the Bulls Keep Up the Pace?

Altcoins 2019/11/27 20:04 by Lorenzo Stroe
XRP, XLM Poised For A Bigger Breakout As Trader Affirms Bullish Stance

XRP has been following Bitcoin’s trails and hopped during the past two days. Today, the digital asset has experienced what is known as a ‘fakeout’ which occurs when an asset abruptly goes in one direction and recovers within a few hours.

XRP briefly broke below $0.22 before the bulls managed to bring the cryptocurrency back up to $0.223 within 2 hours. The bulls are now looking to break above $0.23 which could lead to a bigger and healthier bounce. The 4-hour chart is quite indecisive and keeps shifting between an uptrend and a downtrend.

Similarly, the hourly chart is quite erratic with really long wicks. Smaller time frame charts can often be unreliable during periods of high volatility.

Current General Sentiment About XRP

It seems that the general sentiment is quite positive, especially after a few good news coming from Ripple, the company behind XRP. Ripple has finalized its $50 million dollar investment into MoneyGram recently and has extended its UK TransferGo partnership.

According to CoinFairValue, the fair value of XRP is indeed around $1. The platform calculates the fair value of cryptocurrencies based on the current usage of each coin. The official website states: ‘’We leave speculation to investors.’’

NewsBTC’s Aayush Jindal has a positive outlook on the short term of XRP. According to his technical analysis, the digital asset is showing peremptory signs and could break above the resistance at $0.235.

Can XRP Keep Up The Pace?

Although the recent bounce has been a positive sign for XRP, the trading volume has dropped significantly in the past two days. The RSI continues to be in the oversold area at around 28 points, a level not seen since August 2019.

XRP Gains Support As Bulls Ignite A 4% Surge - Can the Bulls Keep Up the Pace?XRP Chart Via Coin360

The weekly chart is still concerning for XRP investors as the recent bounce does not neglect the current bear flag. The RSI here is at the lowest level since August 2018 when XRP saw a huge surge of around 103% a few weeks later.

Good news coming out from Ripple combined with an overheated RSI could help XRP tremendously but only if the bulls are able to take advantage of it.


Do you think XRP has enough momentum to shift towards a bull run?


Every Crypto Trading and Investment Activities Involve Risk. This Article Is Provided For Informational Purposes Only And Shouldn’t Be Taken As Investing/Trading Advice.

The post XRP Gains Major Support, Jumps 4% – Can the Bulls Keep Up the Pace? appeared first on ZyCrypto.

0 Like(s)



You should also read...

Altcoins 30/11/19 15:47 by Lorenzo Stroe
XRP Gears Up For An Extended Bounce Despite Being More Vulnerable
XRP has been undoubtedly weaker than Bitcoin and a few other major cryptocurrencies. The bounce experienced by the digital asset has clearly denoted worse levels and the bulls have been unable to bre...
Read More
Altcoins 10/01/20 22:11 by Lorenzo Stroe
XRP Bulls Post 5% Surge – Crushing All Daily Resistances
Following Bitcoin’s steps but better, XRP has smashed through all daily resistances and broken above $0.21. The digital asset is currently trading at $0.213 after a bulky surge today. This was a...
Read More
Altcoins 03/03/20 21:10 by Lorenzo Stroe
Despite Dead Cat Bounce, Ripple’s XRP Price Continues To Slide
Like most cryptos, XRP has been in a heavy daily downtrend and has lost 33% of its value over the past 16 days. The digital asset has struggled to find a support level but was able to set a higher lo...
Read More
Altcoins 27/04/20 22:00 by Tony Spilotro
Powerful XRP Fractal Points To Redemption Rally, Start of New Uptrend
XRP is yet another cryptocurrency that has been relatively stagnant. But just like another altcoin that is very closely related to the number three ranked crypto asset that recently saw a strong surge...
Read More
Altcoins 28/04/20 07:48 by Aayush Jindal
Ripple (XRP) Looks Ready For Another Leg Higher Over $0.20
Ripple is currently correcting lower from the $0.2000 support against the US Dollar. XRP price is likely to start a fresh increase unless there is a clear break below $0.1920. Ripple price is correct...
Read More