Analysts are looking out for a possible pump in XRP as recent declines have battered the crypto asset to an important support level. According to Cryptoes and Egrag, two prominent chartists, the current position may consolidate for some weeks before XRP could finally rally. They pointed out bearish signals, such as the downward pressure from the 20 MA and the resistance from the 100 MA. They also anticipate the asset eventually closing above the falling wedge, a positive trigger that could catalyze its price increase. In the past twenty-four hours alone, XRP has gained 4.71%. The asset is up 2.85% since the start of the week due to four consecutive days of gain.
Joseph Ruiz
- 2023-05-12
Analyzing a Possible Pump for XRP
Analysts are looking out for a possible pump in XRP as recent declines have battered the crypto asset to an important support level. Learn what causes the anticipation and what could catalyze the asset's price increase.
