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Note: "This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro. "
- Technical factors raise the XRP price by 15% by placing it above the 200-day moving average
- The BCH fork seems to have triggered the XRP rally
- Technical analysis under the Crypto markets could see a "Merry Christmas" this year
XRP Jump led by Technical than Fundaments
What a view it has been on the crypto road to the XRP community as the currency has gathered over 15% in the last 24 hours, technically putting money prices above the 200-day moving average. This price move seemed to have had its legs for technical reasons, as basically there were not many powerful news about XRP or Ripple that could cause this kind of big increase. Some believe it could be the fork of Bitcoin Cash that has triggered some sort of relapse into other criptos and the watchful XRP community has just taken the opportunity, although this can not be confirmed.
Whatever it is, the upward price spike that has placed XRP now on a 200-day moving average is positive news for XRP hodlers and if the rally claims you could soon see these levels form as a basis for XRP for increase further.
Crypto markets could have a good Christmas this year
While encrypted prices have seen a steady moderate to positive movement in a couple of months, the crypt road is expected to witness a rally as we head for Christmas. After some abrupt movements in BCH and XRP, the technical Chartist believes that Bitcoin prices have opened the Bitcoin triangle to the top and that the currency can see strong rallies. Although this prediction can only be considered true after the bulls have managed to break the 200-day moving average, which is currently at $ 7080.
Usually, equity markets are rallying at Christmas, but an unstable October, combined with the uncertainty surrounding Trump's trade war and the Fed's monetary policy shows signs that Wall Street may have a dark Christmas quest & # 39; year.
We wait and watch
Summary
Item name
Expert opinion: technical factors push XRP prices upwards while crypto markets can see a "Merry Christmas"
Description
Technical factors determine an increase in the XRP price of 15% by placing it above the 200-day moving average. The BCH fork seems to have triggered the XRP rally. Technical analysis under the Crypto markets could see a "Merry Christmas" this year
Author
Mati Greenspan
Publisher name
Coingape
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