Although this increase may seem modest, underlying technical indicators suggest that the Crypto XRP rally still has potential. Let us see why in this analysis.
XRP crosses key resistance; The start of a Bull Run?
The course of the XRP managed to cross a descending trend line, surmounting a level of key resistance which has limited its increase since the end of April. This movement signals a trend reversal and places the XRP in a favorable position for new gains.
The readings of the relative force index (RSI) of Altcoin support this upward perspective. At the time of writing this article, the momentum indicator is 54.11, noting a constant increase.
As a reminder, the RSI indicator assesses if an asset is over -going or occurred. It varies from 0 to 100, readings above 70 generally signaling over-racket conditions and a price drop potential. Conversely, values less than 30 suggest that the assets are argued and could be ripe for a rebound.
At 54.11 and increasing, the XRP RSI indicates that the purchase pressure is strengthened. It also points to the probability of new gains before the token became over -going.
Similarly, the Balance of Power (BOP) indicator of the Altcoin displays a positive value at the time of the editorial staff, highlighting the bias bias towards the crypto of Ripple. It is currently at 0.86.
The BOP indicator measures the force of purchase pressure compared to the sales pressure on the market of an asset. When it climbs in this way, buyers dominate the cash markets. This indicates a potential upward trend for the XRP crypto and suggests that its upward momentum could continue.
Altcoin bulls target $ 2.50
The XRP continues securely above the downward trend line at $ 2.21. If the request is strengthened and the breakthrough leads to a new bullish momentum, this could push the course of the token beyond the resistance at $ 2.29.
A successful crossing of this level could propel the course at $ 2.50.
However, if the purchase activity slows down and the new Altcoin break of the break in a failure, it could drop to $ 1.99.
Morality of history: XRP does not go up in explosions.
Notice of non-responsibility
Notice of non-responsibility: In accordance with the directives of The Trust Project, this price analysis article is only intended for information purposes and must not be considered as financial or investment advice. Beincrypto undertakes to provide exact and impartial information, but market conditions may change without notice. Always carry out your own research and consult a professional before making any financial decision.
