Hello All,
Crypto is going NUTS.
XRP has been too dormant.
Crucial resistance of $0.50 can be seen as an indication of a potential shot at $1.00. When looking at a daily chart, we can conclude the rise to $0.75 was a fakeout as no candle closed above the $0.50 resistance. This marker held the price up for nearly 40 days when XRP rose to $0.75 in 2020. Until this resistance is cleared, XRP can not rise to multi-year highs.
While looking at the fundamentals, two events this week can be looked at as bullish.
XRPUSD LONGS on Bitfinex rose to all time highs within hours, as the price was near $0.36. This is a measure of the amount of open LONG positions at a given time on cryptocurrency exchange Bitfinex.
XRP search terms on google trends just passed Its all time high. A divergence of searches and price this large has not been seen in the history of XRP. With all major digital assets, the search terms are very near correlated with the price. XRP is roughly 770% from its all time high and search terms are above all time high. This also can be looked at as a bullish indicator.
Crypto is going NUTS.
XRP has been too dormant.
Crucial resistance of $0.50 can be seen as an indication of a potential shot at $1.00. When looking at a daily chart, we can conclude the rise to $0.75 was a fakeout as no candle closed above the $0.50 resistance. This marker held the price up for nearly 40 days when XRP rose to $0.75 in 2020. Until this resistance is cleared, XRP can not rise to multi-year highs.
While looking at the fundamentals, two events this week can be looked at as bullish.
XRPUSD LONGS on Bitfinex rose to all time highs within hours, as the price was near $0.36. This is a measure of the amount of open LONG positions at a given time on cryptocurrency exchange Bitfinex.
XRP search terms on google trends just passed Its all time high. A divergence of searches and price this large has not been seen in the history of XRP. With all major digital assets, the search terms are very near correlated with the price. XRP is roughly 770% from its all time high and search terms are above all time high. This also can be looked at as a bullish indicator.
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