XRP, one of the top three digital assets, is seen trading with a complete positive sentiment as bulls retain for the 2nd day in the row, wherein the largest cryptocurrency by market capitalization is hitting fresh highs above $23k. XRP has gained massively around 35% from yesterday’s lows to an intraday high above $0.55 to $0.585. And the impressive catch here is that the 3rd largest crypto of the market has strengthened more than Bitcoin and the largest altcoin, Ethereum.
Bitcoin has rhymed the history of 2017 and has crossed even above with a complete bullish sentiment in the market. Alongside, the altcoin market is also pumped marginally, wherein the 2nd largest altcoin, XRP, is seeing no limits with a continuous spike in the price.
It has chased BTC in its current bull run and given neck to neck competition in rising from the weekly bottoms to rise above the weekly highs.
XRP Price Analysis
XRP’s hourly movement against the US Dollar shows a clear and steep spike since the beginning of the day yesterday, and it was just yesterday when it breached a weekly high above $0.58. However, in the 2nd half of the day, Bitcoin was seen spiking and rose above $20k and beyond, but XRP’s price trend reflects that it started booming in the first half itself.
After a volatile downtrend over the past two weeks, the XRP price went as low as $0.42 due to loss of momentum, and it was just yesterday when it strengthened by 39% from the given lowest to $0.585. It was yesterday when the price trend of XRP/USD was seen breaching the upper band on the hourly chart and retains strong support from 50-day and 200-day MA at $0.50 and $0.52, respectively.
XRP’s intraday movement against the greenback leads to intermittent dips and rises and, with a gain, at the time of penning down lead to a bullish crossover on the MACD chart. In this respect, the RSI of XRP is also seen rising towards the overbought region, which lies at 55.49.