XRP Surges 10% in a Week As Indicators Point to Sustainable Momentum 📈
XRP has experienced a significant increase of 22% in the past week, surpassing the $2 mark for the first time in months. This has renewed interest as technical indicators reveal both potential strength and caution.
The Relative Strength Index (RSI) for XRP has dialed back from near-overbought levels, moving from 34.7 to a cooler 60.5. This suggests a stabilization period following a recent rally.
The Ichimoku Cloud indicates a bullish setup with the price positioned favorably, sustaining above key lines, although there are signs of potential short-term weakening.
Further bullish indicators include a potential Golden Cross, pointing to a possible upward trend that might propel XRP towards $2.23 and beyond, provided that strong volume and positive momentum persist.
However, analysts warn of a potential fallback to $1.96 if upward momentum wanes, which could foreshadow bearish sentiment.
Source: beincrypto.com ↗
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