XRP Shows Strength, Targets 33% Upside Move

Ripple's XRP has shown remarkable strength, maintaining its critical support levels despite market volatility. After a recent bullish surge, the token hit a high of $2.90

After a recent bullish surge, hitting a high of $2.90, XRP showed remarkable strength in maintaining its critical support levels despite the market volatility. However, the momentum was short-lived as the market experienced a substantial sell-off, driven by Bitcoin’s sharp decline from its all-time high of $92,000. This caused the token to retrace to a recent low of $1.91.

Yet, XRP displayed resilience, rebounding quickly to stabilize at $2.35 as of today. The cryptocurrency’s 24-hour trading volume is at $4.3 billion, reflecting a decrease of 11.80% from the previous day. This dip in activity signals a cooling-off period but doesn’t overshadow the 7.76% price increase seen over the past week. While the token has experienced a 3.37% decline in the last 24 hours, its overall weekly performance indicates growing investor interest.

The token’s current price is still 30.80% away from its all-time high of $3.40, which was achieved on January 7, 2018. Despite this gap, market sentiment surrounding the token remains optimistic. The recent hidden bullish divergence spotted on the one-hour chart suggests the potential for a significant upside move.

Market watchers highlight XRP’s ability to consolidate gains amidst turbulent market conditions as a key strength. The hidden bullish divergence, a technical pattern often signaling trend reversals, indicates the possibility of XRP making an over 33% move to retest its all-time highs. With a strong rebound already underway, investors are eyeing the token’s next leg up, anticipating a breakthrough beyond its recent highs.

As the token builds momentum, all eyes are on its ability to sustain upward movements in the coming days. The cryptocurrency’s resilience in a volatile market underscores its potential as a strong contender in the altcoin space.