[ad_1]
Source: Travis Wolfe
- Ripple’s technical analysis (XRP) is currently showing strong bullish signals, with some analysts predicting another bull run.
- In the ranking of the 500 fastest growing companies by the American business magazine Inc., Ripple ranks 123rd.
Over the past 30 days, Ripple (XRP) has been one of the best performing cryptocurrencies in the top 10 by market capitalization. With a price increase of around 58% during this period, XRP only has to admit defeat to Chainlink (+ 116%) and Ethereum (+ 82%). Over the past 24 hours, the XRP price was even the biggest gain in the top 10 with 4.8%. At the time of writing, XRP was trading at $ 0.3159.
This trend could continue in the coming days and weeks, as some technical analysts have now noted. XRP formed a solid support at the USD 0.2750 level and broke the 100-week simple moving average (SMA) for the first time since November 2018. It is also noteworthy that the trading volume in recent weeks is was significantly higher than that recorded by XRP during the bull run in 2017, when the XRP price soared to $ 3.32.
On the daily chart, XRP resumed its current uptrend on August 13, after the price initially consolidated in the first half of August, followed by the July rally. Over the past few days, XRP has again broken out of the resistances at USD 0.2850 and USD 0.2920.
Pentoshi, chief analyst at research firm Blockfyre, later said that XRP has entered a bullish scenario. Pentoshi said XRP recorded a higher high for the first time in 959 days. It also has pointed the significance of the USD 0.30 level that served as resistance for XRP in 2017 before the price exploded:
$ XRP it just had its highest weekly close since the market started making a higher high for the first time in 959 days.
It claimed the .30c level which had acted as resistance in 2017, support in 2018 and has now been recovered. This should be the official start of his bull run.
Source: https://twitter.com/Pentosh1/status/1295156211768336384
Also, bullish was Crypto Bitlord, which once threatened to use a hard fork to create a new cryptocurrency due to its dissatisfaction with Ripple’s XRP policy. The analyst explained that the biggest bullish run for XRP is brewing since the $ 0.04 breakout. Crypto Bitlord also stated that it has no plans to sell XRP due to the hope it has in cryptocurrency.
Get ready for the greatest $ XRP 4 cent breakout 🚀🚀🚀
Disclosure:
I am extremely LONG ✅
– Crypto Bitlord 🏝 (@Crypto_Bitlord) August 17, 2020
Despite the bullish sentiment, a bullish run for XRP still does not appear to be fully confirmed. Indeed, XRP has two double highs ahead on the daily chart, which is known in technical analysis as a common reversal formation. The $ 0.3258 and $ 0.3464 levels are therefore other pivotal points that XRP must cross to send a stronger, longer-term bullish signal.
Ripple has been named one of the top 500 companies by Inc
As Ripple announced yesterday, the San Francisco-based company has been named one of the fastest growing companies by Inc., a leading American business magazine. Ripple ranks 123rd in the full list of 5,000 companies. According to the magazine, Ripple has achieved strong growth of 3,039 percent over the past three years.
We are thrilled to be ranked 123rd in 2020 # Inc5000 list of America’s fastest growing private companies!
Thanks to our fantastic team that every day brings passion to their roles. https://t.co/ZAnGbZGpM1
– Ripple (@Ripple) August 17, 2020
[ad_2]Source link
