XRP price most recently surpassed .28 levels which was a key area historically. XRP has been the best performer the last 24HR posting +4.4% gains. Bitcoin and Ethereum are trailing as Bitcoin has experience -0.24% the last 24HR and Ethereum price sits at +0.76%
As mentioned last week, XRP was approaching a key level on the long-term charts. We mentioned that if XRP price surpassed .28/.29 levels, it could be extremely bullish if we look at price action the last 5 years. XRP has continued to slowly recapture some market dominance the last 30 days. Catalyst seems to be CEO of Ripple ( Brad Garlinghouse ) coming out and doing various interviews. His interviews have covered some key areas that were posing a lot of question marks in the investment community. Aside from interviews, Ripple also mentioned their new affiliation / investment in BRD, which many believe is very bullish for XRP retail adoption.
XRP Price & The 100 Day Moving Average
As mentioned last week, the 100 day moving average was a very key level in our opinion. If we look at the 5 year price action on XRP, it becomes evident that the 100 day moving average is a catalyst. The last few times XRP has trended above this level, it has resulted in 40-50% upside each time. Last week we started to identify how this scenario was forming again. Despite Bitcoin and other altcoins having relatively bearish sentiment the last 30 days, XRP was slowly gaining momentum.
XRP Price Confirms The Resistance Level
Early Monday morning ( 12:34 AM CST ), XRP crossed above the 100 day moving average. With XRP price trending above key resistance, one can argue the strong “bullish” case. If history repeats itself, it wouldn’t be surprising to see XRP target the .40 cent levels in the short term. With all the positive momentum right now from both fundamentals and technicals, XRP could be one “no action letter” away from seeing a large move up. There hasn’t been much development on the SEC side of things, but you can argue that the lawsuit regarding XRP being a security is the main driver holding it back right now. If investors were to see a no action letter being presented, we think you could see XRP jump drastically based on everything going on right now fundamentally and technically.
Come Share Your Thoughts On XRP Board
You can come visit a most recent XRP board below and share your thoughts / ideas! Always interested to hear the communities thoughts on XRP as it’s one of the largest communities in cryptocurrency.
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