XRP price pumps 20% in 24 hours! Here’s what could happen next
|- XRP price has rallied 20% in the last 24 hours.
- The bulls have reconquered the 8-day exponential moving average.
- Invalidation of the bullish trend can be moved below the recent swing high at $0.45
XRP price has surged impulsively. Take-profit zones have been identified.
XRP price is mooning!
XRP price has validated the bullish trade idea published at FXStreet just a few days prior.
After a deep correction early this morning near the $0.45 levels, the bulls stepped back into the market in an applaudable fashion. XRP price has, at the current time, rallied 18% in the last 24 hours.
XRP price currently auctions back above $0.50 as the bulls have reconquered the 8-day exponential moving average. The volume profile is still low compared to the previous sell-off, which merits the idea that a double top pattern could occur near all-time highs. Traders should continue to watch volume and RSI as the uptrend unfolds. Key levels of interest are $0.56 and the previous congestion zone dating back to 2021 at $0.60.
XRP USD 4-Hour Chart
Traders who partook in the bullish trade idea can trail profit at $0.45. A retap of the previous swing high within the current uptrend will be the earliest confirmation that the uptrend move is over.
In the following video, our analysts deep dive into Ripple's price action, analysing key market interest levels. -FXStreet Team
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.