Here’s How Ripple’s (XRP) Likely to Perform in the Coming Days?

Here’s How Ripple’s (XRP) Likely to Perform in the Coming Days?

XRP price

The post Here’s How Ripple’s (XRP) Likely to Perform in the Coming Days? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The seventh largest cryptocurrency by market cap, XRP,  is currently witnessing a pump-and-dump pattern- similar to several other assets. 

At the time of publication, XRP Price is changing hands at $0.35 with a drop of 0.88% over the last 24hrs.

In June, Ripple’s XRP had formed a support level at $0.39 and since then, this has been playing the role of a key resistance area. Recently, the currency was trading between $0.30-$0.41 along with forming a mid-point at $0.36.

In August, the XRP price was maintaining its range at $0.39 for almost two weeks, but the bulls failed to push the price above this area and it plunged.

Will XRP Surge Beyond $0.39?

The technical indicators showcase a sudden turn of events during this bearish trend. The RSI has climbed above 50, depicting a strong positive outlook for the next 48hrs. Meanwhile, the Accumulation/Distribution (A/D) moved towards the important resistance area, but this won’t help the currency to hit the $0.39 area. However, this suggests that a surge could be possible in the next two days.

Interestingly, even XRP’s Chaikin Money Flow (CMF) moved past +0.08 indicating huge buy activity.

These developments point to the fact that there is a demand for XRP and the bulls are gradually trying to enter the market. However, a move past the key resistance might not happen soon.

XRP has faced a barrier several times while the currency was trying to trade above the resistance zone; if it finally manages to accomplish this, Ripple’s XRP will easily hit $1.

On the whole, market participants need to display patience for some more time as it will take a while for XRP to see a positive trend line.

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