Is XRP ready to ‘go to the moon?’ All these signs say YES!
The post Is XRP ready to ‘go to the moon?’ All these signs say YES! appeared on BitcoinEthereumNews.com.
XRP’s dominance and monthly volatility say price is set to go higher XRP’s monthly MACD indicator turned bullish as whale accumulation intensified XRP‘s price action is worth watching, especially after recent SEC developments suggested that it may be poised for significant moves on the charts soon. Consider this – The Bollinger Bands on the monthly chart were tightening at press time, signaling that XRP is in consolidation right now. When considering XRP’s dominance chart to cut through the noise of XRP/USD, however, it showed clear market outperformance, reversing from levels that typically precede major rallies. Source: TradingView With monthly volatility at an all-time low and these indicators revealing a bottom, XRP may soon be ready to rise. If this is the case, it might be one of the most promising altcoins in the market in the short-term. Additionally, XRP’s weekly timeframe has outperformed the market for 10 consecutive weeks – A sign of strong potential for an upward breakout in XRP/USD’s charts. Source: TradingView Despite the current stagnation of XRP/USD, XRP’s total market cap indicated strength that is both undeniable and sustainable. Simply put, this consistent outperformance suggested that XRP may be well-positioned for future gains, supported by strong market metrics. MACD indicator analysis flashed green XRP, at the time of writing, was in a Wave 3 structure on the monthly timeframe, targeting $1.88, $5.85, $18.22, and $36.76 by Wave 5 as Dark Defender cited on X. Once XRP breaks above $0.66, a quick move to $1.03 can be expected, marking a mid-level target. Holding above $1.03 would mean an extremely bullish zone above the Ichimoku Clouds. Also, yhe MACD Monthly Indicator also turned bullish, while the formation of a Dragonfly Doji suggested greater buying pressure. Source: Dark Defender, TradingView Considering these technical indicators and the influence of recent SEC…
Filed under: News - @ August 17, 2024 3:10 am