XRP Is In Bullish Territory
As of this moment, XRP is presently showing signs of an upward movement handled by the bulls. With the coin already moving close to the $0.55 zone, the digital asset could grow to trade as high as $0.60 if the bulls are involved. Another technical analysis that shows that the bulls are currently dominating the market is the movement of the coin above both moving averages ( 9-day and 21-day). According to analysts, if XRP were to show that it is indeed starting this week with a bullish momentum, the digital asset needs to make a huge rise to breach the $0.60 resistance figure.
XRP tipped to touch $0.60
While the asset has done well to dismantle the previous resistance level set at $0.56, it has only done a little to stay above it before closing down below it. However, if the digital asset slides under the moving averages, the price of the asset could take a huge step back to trade at $0.48. If the bulls fail to help the market at this point, it could trigger the bears to run the market further down the moving averages to trade at $0.47.
If the bears eventually gain ground in the market, they could use their momentum to push the asset further below to trade at $0.45 before going to the last support at $0.43. However, if the buyers will build up any hope that would see their asset grow higher and give them the much-needed profits, they would need to put in a lot of work into the market.
If their activities are worthy enough to trigger the bulls, the price of the asset might soon find its way towards the $0.60 price range. If the bulls are eventually triggered, the price of the asset will gain an upward momentum to see it push closer to the first and second resistance figures at $0.61 and $0.62, respectively. If the bulls gain more momentum, the asset might travel upwards to further touch the next resistance figures at $0.64 and $0.66.
XRP/BTC Comparison
Against leading digital asset, Bitcoin, the price of the digital asset is gradually making a move into bullish waters following an upward surge above the 60 level of the RSI. With the asset’s price still moving up, it could be on its way to touch the 1005 Satoshi level. As it is now, the market is bound in the downward channels, with only the bulls having the power to push it higher.
Moreso, if the bulls are successful in their move to break above the moving averages, the asset could go on to trade at 1100 Satoshi before seeking to touch the 1200 Satoshi level. Amove downward may trigger the asset to touch a known support level of 800 Satoshi.
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