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Ripple's XRP started the week surging above the range it had from $ 0.29 to $ 0.31.
It continued past resistance at $ 0.35 and currently trades around $ 0.38.
$ 0.39 to $ 0.4 is the next important area to monitor, being an area of significant trading activity in the past.
The intraday high of today 's trade was around $ 0.395 but has since reversed with buyers
This also corresponds to Bitcoin price approaching $ 4000 and reversing.
Conditions, however, are markedly more bullish with buyer momentum increasing.
The daily RSI and MACD, both measures of momentum, have been increasing.
The hourly chart shows XRP starting to reverse after entering the $ 0.39 to $ 0.4 area.
XRP has started to reverse already a number of times this week.
XRP can continue to increase its performance.
If the next increase halts before $ 0.39, a lower high will be formed.
Key Takeaways:
- XRP surges this week and enters a significant area of liquidity between $ 0.39 and $ 0.4.
- MACD and RSI both increasing.
- Key chart pattern to monitor is on XRP forms to lower high on its next price increase.
| DISCLAIMER: Investing or trading in digital assets, such as those here, is extremely speculative and carries substantial risk. This analysis should not be considered as investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt. This analysis should not be interpreted as an endorsement or recommendation of a particular asset. |
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