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Quick grip:
- XRP is once again above $ 0.25 and $ 0.26
- XRP is attempting to turn the $ 0.27 price area into a support level
- The bullish trend of the digital asset is the result of the snapshot of Flare Networks on December 12 at 0:00 UTC
- Those wishing to attend the event are advised to move their XRP to an exchange or platform, once participation in the snapshot has been confirmed
A quick glance at Coinmarketcap reveals that XRP is one of the few digital assets showing substantial 24 hour earnings. At the time of writing, XRP is trading around the $ 0.27 price area and with a gain of 5.49% over the past 24 hours. The impressive performance of XRP can be seen in the screenshot below.
What the daily XRP / USDT chart says
The daily XRP / USDT chart further confirms the bullish trend of XRP. From the graph (below) it can be seen that the price of XRP is definitely above the three daily moving averages: 50 days, 100 days and 200 days.
Also, XRP’s trading volume is in the green. The daily MACD has also crossed bullishly with its histograms confirming increased buying interest. However, the daily MFI and RSI are a bit high with values of 67 and 73 respectively, thus indicating some level of consolidation for XRP in the days ahead.
In terms of moving resistances, XRP faces the following short-term price levels on its path to $ 0.30.
- $ 0.272
- $ 0.277
- $ 0.281
- $ 0.287
- $ 0.290
- $ 0.295
XRP could continue its bullish rise thanks to the snapshot from Flare Networks
In terms of fundamentals, XRP investors are looking forward to the Flare Networks snapshot event. According to the Flare Networks team, the snapshot will take place on December 12 at exactly 00:00 UTC.
The snapshot will take place at 00:00 GMT on 12/12/20
– Flare (@FlareNetworks) November 13, 2020
XRP investors advised moving their digital assets to a confirmed platform that supports the event
The Flare Networks team further advised XRP investors be careful and transfer their funds only to an exchange or platform that has confirmed its participation in the snapshot.
For XRP held in a bag that does NOT support Flare.
To receive Spark: a) move it to self-custody before 12/12/20 or submit the request or b) switch to a support exchange before 12/12/20
You have to decide which support exchange you trust. We cannot accept responsibility.
A full list of exchanges and platforms that support snapshot is available on the Flare Networks website and includes the following.
Exchanges: AltCoinTrader, AnchorUSD, BitBay, bitbns, bitrue, btc markets, Celsius, Coinfield, CoinSpot, eToro, eToroX, GateHub, GOPAX, NDAX.IO, NEXO, Tokens.net, Uphold, YouHodler.com
Wallets: Cobo Wallet, Exodus, Guarda, Ledger, XUMM, DCENT, Ellipal, Gatehub, SafePal, MetMask (for those who wish to perform the procedure manually)
For more information on the Flare Networks snapshot, XRP owners are advised to visit the Frequently Asked Questions section of their site.
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