Community Forex Questions
XRP 2022 performance
At the time of writing, XRP was the biggest gainer on the daily charts of the top ten cryptocurrencies by market cap, gaining about 5%. Price of the altcoin began to decline on April 16 and fell to a lower support level of $0.56.
XRP has resumed its upward path after reaching the lower cost threshold of $0.56. Its value has risen by more than 12% since May 1. At the time of writing, XRP was trading at $0.61, after reaching intraday highs of $0.63 earlier.
It is possible that the delays in the Ripple-SEC case contributed to the rangebound movement of XRP. The RSI of XRP did, however, rebound from the oversold channel, indicating a strong buying sentiment.
In most of last week, XRP's RSI indicated significant selling, and its recovery into the neutral RSI zone may represent a good entry point for investors. In the immediate term, a relief rally could be predicted as buy-side pressure on XRP grows.
XRP has resumed its upward path after reaching the lower cost threshold of $0.56. Its value has risen by more than 12% since May 1. At the time of writing, XRP was trading at $0.61, after reaching intraday highs of $0.63 earlier.
It is possible that the delays in the Ripple-SEC case contributed to the rangebound movement of XRP. The RSI of XRP did, however, rebound from the oversold channel, indicating a strong buying sentiment.
In most of last week, XRP's RSI indicated significant selling, and its recovery into the neutral RSI zone may represent a good entry point for investors. In the immediate term, a relief rally could be predicted as buy-side pressure on XRP grows.
May 23, 2022 13:13