Cryptocurrency

Analyst Waiting for Rally at Ripple Gives Levels!

The crypto market, which started the new week with a short rise, could not get rid of the decline in the past hours. To name a few of the top 10 altcoins, it is preparing to react. Of these, XRP has managed to grow up to 5% in the last 24 hours. However, it is currently 1%. 5 is down and testing the resistance of the ascending channel. According to analyst Naqvi, breaking this zone could bring valuable levels for Ripple.

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According to the analyst, the continuation of the upward movements in Ripple (XRP) may come

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At the time of writing, XRP, which was trading at $ 0.613, last reached this region with $ 0.651 on May 23. Since May 19, there is now the non-bullish 50-SMA (yellow) and also the 38.2% Fibonacci Extension at $0.681. A close above this zone could launch XRP 12% from its current level at $0.734 to 50% Fibonacci Extension.

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Additionally, -DI and +DI are close to each other on the DMI (Directional Movement Index), so the analyst states that a possible buying pressure could follow the bullish crossover. A measure of bullish momentum is accumulating in the market on Awesome Oscillator. However, the RSI is trading in neutral territory and has not moved above 50-55 which is now very valuable for bullish control. For this reason, the analyst states that the 24-hour process volumes, which are at the level of $ 1.74 billion, should be observed in the coming days. Also, a similar increase means that XRP could trend upwards and continue its trajectory, according to the analyst.

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Analyst states this week that XRP is giving bullish signals

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Cryptocoin. com In the technical part of XRP, the above factors were definitely a plus sign in the market compared to the analyst. However, XRP has a few more glitches ahead of it. The Visible Range shows a high level of interest in the $0.651 reinforcement for XRP, which strengthens its defenses against the price increase, according to the analyst.

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Finally, gaining key levels again in the coming days could allow XRP to prolong its rise, which could trigger a 12% rally. However, the bulls face an upside mission to enforce such an outcome given the existence of strong resistance zones. In due time, failing to break the ascending channel from the upside could return XRP to the lower trendline and the $0.580 defensive line before the next rally, according to the analyst’s claims.

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