Price Analysis

XRP Reclaims 30-day High & Gains 13% in 2 Days

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XRP, in the recent past, was seen taken over by Tether at 3rd position in the global crypto market. XRP, beyond doubt, is an amazing altcoin investment but has a slower growth comparatively. If we consider the recent altcoin hike wherein the coins like Verge, Cardano and VeChain have gained an amazing momentum, but with XRP and Ethereum, we see steady yet slow growth.

While the price of Ripple trades at 4th position, it is one of the coins that have a similar momentum to that of Bitcoin and Ethereum However, this time, XRP and Ethereum have gained moderately from trading around $0.185 to currently trading at $0.210.

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XRP Price Analysis

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XRP/USD Chart By TradingView

Just when the other altcoins of the market are breaching strict resistances, XRP is seen reclaiming its 30-day high above $0.20. However, the coin has been on a swing higher lately, which has led to bullish crossovers in the intraday. Moreover, XRP coin had exhibited a mix of trends after the massive sell-off in March when it went as low as $0.11. XRP/USD drew an uptrend until the first week of May and was followed by a subtle downtrend thereafter until the beginning of the ongoing week.

However, the technicals laid are drawing bullish sentiments due to positive crossovers in the intraday. The MACD chart of XRP/USD holds a bullish divergence after it strengthened by 13% in 2 days, and similarly, the RSI is around the overbought zone at 69.62.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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