Ripple Price Analysis: XRP Bull Run Finally Here as Buyers Push to $0.70?

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Cryptopotato2024/03/11 17:49

By:CryptoVizArtMore posts by this author

Ripple is considered far behind other major cryptocurrencies. While coins like BTC and ETH are rallying consistently, XRP has failed to do so. Yet, things might be about to change soon.

Technical Analysis

By TradingRage

The USDT Paired Chart

XRP has consolidated the price above the $0.6 level against USDT. It has also been retesting the 200-day moving average, around the $0.57 mark, multiple times during the last few weeks. Yet, the market is seemingly rebounding from these areas and is about to begin a new bullish phase.

This scenario would fail if the market drops below the 200-day moving average.

The BTC Paired Chart

Looking at the Bitcoin pair, things have been quite different for XRP. The price has been trending down for the last nine months without showing any signs of recovery.

However, XRP has reached a key support level around the 800 SAT mark. This level might have the potential to overturn the trend and lead to a bull run for XRP against Bitcoin in the upcoming months.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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