Since its lowest level from year to year at $ 1.61 on April 7, the entire XRP holders have benefited from the decline in accumulation efforts. This purchase pressure increased steadily from the value of the original during the past week.
At the time of the press, XRP is traded at a height of seven days of $ 2.19, and technical indicators show that the gains can be expanded.
XRP Golden Cross pushes the bullish momentum
On the daily chart, the golden cross is formed on the indication of the contrast to the average rapprochement in XRP (MACD), which is often seen as a major indication of the shift towards the long -term upward trend.
The MACD index measures asset price trends and momentum, and determines the reflection points. It forms a golden cross when the MACD (blue) line crosses over the (orange) sign.
When a golden cross appears like this, it indicates a positive shift in investor morale. Traders explain this as a braid that purchasing the activity to sell pressure, which can attract more flows and pay the price up.
For XRP, this golden cross occurred on April 11, which enhances the growing upward feelings surrounding the original. This pattern confirms that the recent ALTCOIN price recovery is not just a short -term reaction, but rather it may be the beginning of a more sustainable rise.
Moreover, Chaikin Money Flow (CMF) supports the distinctive symbol this upward view. At the time of the press, it is located above the midfield and in the upper direction at 0.07.
The CMF indicates how the money flows inside and outside the assets. CMF’s positive reading, as with XRP, purchasing pressure is stronger than selling pressure over a certain period. It indicates that the capital flows into the distinctive symbol, a significant accumulation and growth of prices.
XRP maintains the upward trend – the following stop: $ 2.50 or return to $ 1.99?
Since it started gathering on April 7, XRP has been trading over the upward trend line. This bullish pattern appears when the original is a higher decrease over time, creating an upward support line.
It indicates an increased interest in purchase in XRP and suggests that the momentum is built in favor of the bulls with the continued high price of the symbol.
If the demand rises, XRP can extend its gains and climb it to $ 2.29. The successful face of this resistance can push XRP to $ 2.50.
However, if the resumption of attracting profits and the sale of pressure increases, XRP can reversed its upward direction and decrease to $ 1.99.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
