XRP reaches two-month highs, suggesting a potential goal of $3 based on breakout momentum.
Rewritten Article:
Hop on board as we explore the latest ride for XRP! Soaring to a daily high of $2.61, this cryptocurrency has made a triumphant comeback, reaching its peak since March 6.
In the past 24 hours, XRP boasted a 4% increase, and over the last week, it's up an impressive 6%. The trading heat is on, with XRP's daily volume climbing a whopping 193.5% to a staggering $10.83 billion! And it's not just the spot market that's pumped – derivatives trading volume surged an astonishing 237.27% to an eyebrow-raising $19.4 billion! Open interest also climbed 13.55% to a mighty $5.23 billion, as per Coinglass data. What's clear is that the market is jam-packed with brokers placing bigger bets on XRP's next big move.
XRP even nudged past Tether in the crypto cap races during this rally. Santiment attributes XRP's price spike to a perfect storm of positive events: a 11% surge in XRP holders since the start of the year, increasing adoption through platforms like Travala, and Missouri's proposed House Bill 594 allowing for capital gains tax deductions on assets such as XRP and Bitcoin.
Let's talk tech. XRP is absolutely smashing it, trading above all key moving averages. These averages, including the 10-day and 200-day, signal a solid buy. The MACD is bucking the bear trend and sitting pretty in positive territory, and the relative strength index (RSI) stands at 62, hinting that XRP still has room to climb before becoming overbought.
If XRP manages to hold strong above the $2.45 support level, it could be bullish all the way to $2.80, or maybe even test the $3 psychological level. But if it plunges below $2.20, it might experience a temporary slump.
Crypto sage Dark Defender thinks this move could be just the beginning of a larger wave. They think XRP may have wrapped up its Wave 4 correction at $2.07 and is now charging towards Wave 5, historically the beefiest part of the journey.
Confirmation is still pending, but if this pattern holds, XRP could lock onto targets ranging from $5.85 to $6.39 in the coming days.
XRP is inching closer to breaking free from its current restraints at $2.45, with the SuperTrend indicator flashing a buy signal. Keep your eyes locked on the ripples as they continue to break free!
- The surge in XRP's price hascatapulted it past Tether in the crypto cap races, documenting a 4% increase in the past 24 hours and an impressive 6% rise over the last week.
- As technology continues to play a pivotal role in finance, XRP is trading above all key moving averages, signaling a solid buy opportunity for investors.
- In the fast-paced world of cryptocurrency, XRP has been in the news for its meteoric rise, with XRP holders increasing by 11% since the start of the year.
- Crypto analyst Dark Defender predicts that this recent move could be the start of a larger wave for XRP, with potential targets ranging from $5.85 to $6.39 in the coming days.
- Apart from centralized exchanges, decentralized finance (DeFi) platforms have witnessed an influx of interest in trading XRP tokens on platforms like DEX, offering another avenue for investing in this hot cryptocurrency.
