XRP price could be on the cusp of seeing massive near-term upside
XRP price has also shown its strong uptrend with recorded returns of 19% over the past seven days. At press time, XRP is trading around $ 0.304, up nearly 4% over the past 24 hours.
XRP/USD 4-hour chart | Source: TradingView
The XRP price breakout above the trading range is held long as the uptrend starts to decline
At press time, XRP is trading up almost 4%, marking a noticeable rise from the daily low of $ 0.28 established during a market-wide consolidation seen yesterday.
The selling pressure it faces when it crosses the $ 0.3 level for the first time is significant, as this has long marked the upper boundary of the strong multi-year trading range. If it can surpass this level in the long term, it could provide a solid basis for future growth.
The fact that a drop below the level it was heavily bought is a promising sign, suggesting that XRP is likely to recover, although not yet accepted.
According to crypto trader Credible Crypto, XRP could be on top of a long-term bottom formation:
— Credible Crypto (@CredibleCrypto) November 19, 2020
Because XRP doesn’t have so much for it at the moment other than market-wide strength, there is a high probability that its trend in the short term will depend almost entirely on Bitcoin.
You can see the XRP price here.
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