As a seasoned researcher with years of experience navigating the tumultuous seas of cryptocurrency markets, I must say, today’s surge in XRP has brought a glimmer of hope amidst the market’s rollercoaster ride. With my finger on the pulse of the digital currency world, I’ve seen enough bull runs to last a lifetime, and this one seems to be showing some serious legs.
Bulls are not giving up so easily, according to CoinMarketCap.
XRP/USD
XRP has gained a lot of value today, rocketing by 20%.
On the hourly chart, the rate of XRP is returning to the local resistance level of $0.6240.
If the daily price chart tends to end close to its current position, there’s a possibility that we might witness a breakout leading towards the $0.65 region.
In terms of day-to-day trading, it’s advisable to concentrate on the immediate price point of around $0.6374. Should a breakthrough occur, the built-up momentum could potentially sustain further progress towards the critical region of approximately $0.70.
Looking from a midpoint perspective, things don’t seem as optimistic. Yet, should the weekly graph close near the halfway mark of $0.65, traders might observe a continued climb toward the resistance level of approximately $0.7329 by month’s end.
XRP is trading at $0.6120 at press time.
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2024-08-08 18:24