Home / Ripple / Ripple's XRP returns after a 22% peak

Ripple's XRP returns after a 22% peak

Ripple's XRP began a 'surge in prices on Sunday, which saw a digital currency peak of more than 15% in three days. Since then, the price has started to come back, but it is still in a much more bullish position than last week.

Last week, the price of XRP was traded in a low volume range and had a key resistance above the range of $ 0.49 points of resistance and 200 EMA. The 22% price peak managed to bring XRP above these levels, and these could act as support if the retracement continues. The retracement is low volume up to now, which shows that there may be little force behind it. Also many other cryptocurrencies are doing well, giving a generally positive sentiment on the market.

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Daily XRP chart – Source: Tradingview.com

The price action yesterday for XRP formed a bearish divergence on an hourly basis. The price was reaching a higher maximum, while the RSI marked a lower rise, showing a rise in prices despite the decrease in purchasing pressure.

The way in which the model is manifested shows the danger of exchanging this model without risk management procedures or without further information. The price has continued to rise by almost another 7% from the format model. Since then, the price has begun to register and trade around $ 0.53.

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XRP time chart – Source: Tradingview.com

Key Takeaways:

  • The XRP has increased by 22% over three days.
  • A bearish divergence was formed over time, but the price increased by another 7% after the format model.
  • Since then, the price has started to rise from the highs, but currently there is a generally bullish sentiment in the market.
NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset.

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