Ripple (XRP) is seeing an uptick in its fortunes. Recently a notable trader, Cryptotos_ta, made a tweet indicating that the altcoin's daily close has closed above a critical price level. This indicates further growth is in store for XRP, with the prediction being that the crypto will soon push above the next resistance level at around $0.53.

At the time of writing, the XRP price has reached the heights of $0.5105. This marks a gain of 0.32% recently, and an overall weekly gain of 1.12%. Although the crypto has dropped 0.47% and 0.67% respectively against Bitcoin and Ethereum, its daily trading volume has declined by 25.04%.

There is also a bearish triangle chart pattern evident on the XRP daily chart. However, it appears that XRP has broken out of this pattern, as the price looks to continue its upward trajectory. Moreover, its daily RSI indicator implies that there is a large amount of sell volume present, with the RSI moving towards an oversold state.

For traders hoping to take advantage of the momentum that XRP has established, it may be wise to wait until there is a bullish cross detected between the daily RSI and the daily RSI SMA line. Doing so will ensure that the chances of seeing a higher return are maximized.

The new development signals that Ripple is ready to make a move towards bigger and better heights. For those looking to make the most of this altcoin’s recovery, it seems that this is the ideal time to make such a move. As always, however, it is important that traders perform their own research and due diligence before deciding to invest.



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