XRP, the fourth largest encrypted currency depending on the market value, has yet been a mixed week.
After a three -day decrease at the beginning of the week, which saw the XRP decreased to $ 1.61 at some point, the XRP reflected a path, and rose sharply from $ 1.72 to $ 2.09 on Wednesday.
Although the recovery was interspersed with a decrease on Thursday, XRP resumed its recovery on Friday. On Saturday, XRP has continued its recovery and rose 4.53 % in the past 24 hours to $ 2.09 after reaching its highest levels between $ 2.185.
The week was noticeable, as Ripple got the Hidden Road Prime Brokerage Road for $ 1.25 billion, which is the largest deal ever for digital assets and one of the largest in the history of the cryptocurrency industry.
Hidden Road from RLUSD Stablecoin will benefit from Ripple as a guarantee through its main mediation products and the transfer of post -trade activity to XRP LEDGER Blockchain.
The reflection pattern appears: Was the storm end?
XRP created a “golden cross” on its watch scheme, indicating the shift of a short -term trend that could indicate the beginning of a greater recovery. The golden cross occurs when the average moving in the short term crosses in the long run, indicating that the upscale momentum may enhance.
Related
Although the golden crosses are on the larger time frames (such as daily or weekly plans) carries greater weight, the clock signal is still important.
Although it is still too early to summon the change of the full direction, the appearance of the golden cross, along with the recent price gains, is the most positive indicator that XRP has seen in recent weeks. If the momentum continues to build, this may be the beginning of the next stage of XRP.
For traders, the next critical level of viewing is $ 2.26, which corresponds to the daily SMA 50. A successful break above this level can enhance the reflection and pave the way for a higher goal of $ 3. Another scenario is that XRP will merge in a range before making its next step, with support in Daily SMA 200 at $ 1.88 and then $ 1.61.
