Metrics Behind Ripple Price Push latest News

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Despite the largely sluggish cryptocurrency market, Ripple (XRP) appears to be an exception of sorts. In an environment that is largely driven by negative price momentum, XRP has recently shown a tremendous price rally. One obvious reason could be the possibility of a final ruling and the closure of the SEC vs. Ripple case in the coming days. To support this theory, key technical metrics are on a bullish pattern and hence a further rally is likely.

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There has been a strong buying pattern with XRP over the past week, with the price rising 33% during this period. The sentiment around is that the SEC case has increased trader optimism and higher XRP whale movement. Furthermore, it appears that Whale has shifted its focus away from Ethereum, which had a historic upgrade in the form of The Merge.

XRP Price Rally – Technical Formation

Technical analysis shows that XRP is breaking the 18-month trend on the volume front at current levels. The cryptocurrency is also breaking the 22 month trend on the RSI. According to Analysis by Crypto Banter, an influencer, these observations indicate a huge buying opportunity for XRP. After the 33% jump in price last week, it remains to be seen whether the altcoin continues the same momentum.

“XRP is breaking the 18-month trend on the volume front and the 22-month pattern on the RSI front. This is clearly bullish news on the extremely high time frame like a crazy pump at once.”

Investig reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong supporter of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him here [email protected]

Metrics Behind Ripple Price Push latest News CryptomarketBagMetrics Behind Ripple Price Push latest News CryptomarketBag

The material presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for your personal financial loss.

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