XRP has been in a downward trend for the past 7 days, with many speculating this is because of its lack of utility. However, some believe that the coin needs to rise above $0.85 before it can finally enter into an uptrend and return back to higher prices. If XRP manages to break through these levels, then we may see some major gains from here on out.,
The “xrp news” is a cryptocurrency that has been stuck in the $0.75-$0.85 range for some time now. The market remains stagnant, as the price doesn’t seem to move from this point on.
The price of XRP is stuck between $0.75 and $0.85, with very few optimistic indications for the asset.
A Quick Overview of the Market
The crypto market as a whole has stayed quite stable over the last seven days. BTC traded mostly between $45,000 and $50,000, with lower highs and lows. This certainly indicates a sluggish market. Crypto produces higher highs and lower lows in a bullish atmosphere.
Almost all of the other popular cryptocurrencies have seen similar price behavior, with the exception of a handful, most of the leading coins seeing a shift of less than 10%. In particular, Avalanche, which has increased by 19% in the interim.
Technical Analysis of XRP
XRP is the most stable of the top ten, with a high of $0.88 and a low of $0.77 in the last week, a very tiny shift. While $0.85 is resisting XRP, $0.75 is a support level, and the token is stuck in the middle.
If the token breaches the existing support or resistance levels, they will be redefined at $0.70 and $0.90, respectively.
The first important technical signal in this situation is XRP market volume, which has been relatively flat over the previous seven days as the coin has failed to generate sufficient momentum to depart from its current price range.
Second, when the chart produces higher lows, the Relative Strength Index (RSI) of XRP shows some optimistic signs. The RSI for XRP is now below 50 points, and it must be broken through in order for the currency to gain traction.
There might be a bullish wave in the following week as we approach the end of the year. It should be recalled that Bitcoin has risen from $18,000 to $29,000 by December 2020.
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The “why did xrp spike 2021” is a question that many XRP investors have been asking. The market remains stagnant as the price of XRP has been trapped between $0.75 and $0.85.
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