Is XRP Price Primed to Explode This Week? Major Bullish Pattern Emerges After 3 Years
Ripple (XRP) continues to hold strong at $0.6. This level is currently on a bear flag from the significant surge of XRP's price up to the $0.8 level.
By Wayne Jones
XRP’s current market cap and circulating supply are $33,108,774,606 and $52,787,284,454, respectively. It is 81.52% below the all-time high of $3.84.
- XRP’s price skyrocketed on July 13. after a partial victory in the SEC lawsuit where it was ruled that the offer and sale of XRP tokens on exchanges did not constitute investment contracts.
- This week, the market is anticipating a potential surge in XRP’s volatility as major bullish patterns signal a bull run. The golden cross has appeared on the 3-day chart. According to an analyst, this pattern has happened only twice before.
- The price is currently trading at a level below the 0.618 Fibonacci retracement level.
- The 50-day SMA at the $0.54 support and resistance level also signals a bull run. If the price rejects this SMA and also rejects the support and resistance level of $0.54, then the price may change the character and make a run to the upside to retest or maybe break the recent high made last month.
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