Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Is XRP on an uptrend finally? Recent chart patterns suggest it might be starting a reversal from its recent lows. As we have previously mentioned on U.Today, a technical move known as the “golden cross” has occurred, where the short-term moving average crosses above the long-term moving average, hinting at potential growth for XRP.
Looking at the chart, XRP is trading around $0.63. It has crossed over the 21-day exponential moving average (EMA), an early sign that could indicate an uptrend is forming.
If this upward trend continues, we could see resistance tested near the $0.64 mark. Breaking past this could clear a path to higher levels, with eyes on the next resistance around $0.68. On the flip side, there is strong support at $0.58 that could catch a falling price and become a foundation for a future reversal.
Growth scenario-wise, if market recovery kicks in next week after a fortnight of being pushed down, XRP could ride the wave. A steady move past $0.64 and maintaining above this level might set the stage for a surge toward that $0.68 resistance.
The future of XRP seems to be hinting at its ability to maintain this newfound energy. With a potential market recovery on the horizon, this could be the boost XRP needs to solidify its uptrend. Traders and investors will be watching closely to see if XRP can seize this moment and establish a consistent upward trajectory.
The breakthrough above the 21 EMA and the golden cross formation are positive indicators for those hoping for a price surge. However, considering XRP’s history of letting its investors down, caution is advised.