The post XRP’s Nemesis Resistance Broken: What’s Next? appeared on BitcoinEthereumNews.com.

Arman Shirinyan XRP finally moves past important resistance level, but there’s much more to be desired Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XRP has experienced notable volatility in the recent past, with its price dynamics closely monitored by the crypto community. Over the past few weeks, this cryptocurrency has managed to break through significant resistance levels, hinting at potentially more significant price movements on the horizon. A notable observation is XRP’s movement past both the 200-day and 50-day Exponential Moving Averages (EMAs). EMAs are crucial technical indicators that traders and analysts use to determine the general trend of an asset over a given period. For XRP, surpassing these critical EMAs signifies a potentially bullish trend, especially when considering this movement in the context of broader crypto market sentiment. Source: TradingView Adding to the bullish narrative is the formation of a golden cross on the XRP chart, signaling the potential for a significant price rally. Historically, golden crosses have been precursors to robust bullish movements, though they may sometimes deliver false signals. The current momentum can be partly attributed to the positive sentiment surrounding Bitcoin’s surge to $35,000, which often acts as a benchmark for the rest of the crypto market. However, specific headlines related to XRP have likely played an even more significant role. Recently, XRP registered its most substantial single-day gain in…

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Filed under: News - @ October 25, 2023 2:14 am