XRP, the fourth largest encrypted currency depending on the market value, reached the highest level of $ 2.476 on May 10 in a three -day climb. Now its price fell slightly, as it settled at about $ 2.3 at the time of writing this report.
XRP recently offered a power, as it returned to the daily SMA trade that was monitored at $ 2.167 after it fell below at the beginning of May.
The last bullish momentum helped in the broader cryptocurrency market, which saw Bitcoin exceeding $ 104,000, raising the XRP price. according to Coinmarketcap, XRP is trading at $ 2.377, a decrease of 1.91 % in the past 24 hours, but by 8.42 % per week.
The decrease in the past 24 hours may be a typical behavior in the market, as traders and investors get profits after a significant increase in prices, creating a basis for future movements.
Move more forward?
With the XRP price by 8.42 % over the past week, monotheism at $ 2.3 can indicate that XRP may increase the momentum for another major step.
The decisive question is whether the current monotheism will lead to another upward eruption or whether the bears will restore control. The XRP price behavior during the next few days may be it is very important in determining its short -term course.
If XRP is able to maintain its current highest levels, this may increase the purchase pressure and continue the upper direction.
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The main levels of viewing
On the upper side, 2.50 dollars remain a main resistance level. If XRP is able to collapse decisively above this level, the path may be paved to move towards higher levels, and possibly target a mark of $ 3.00.
The moving averages will also be monitored for 50 days and 200 days to obtain marks on the continuous bullish momentum. If the price of XRP maintains these moving averages, the general trend will remain upward.
In the coming days, XRP is expected to make a medium -moving intersection on the daily chart, which may lead to a bullish golden cross or a declining death cross.
