RATE Group | One Big Bearish Pullback Could Send Ripple’s XRP Back to YTD Highs
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One Big Bearish Pullback Could Send Ripple’s XRP Back to YTD Highs

29 Apr One Big Bearish Pullback Could Send Ripple’s XRP Back to YTD Highs

Posted at 23:30h in Bitcoin News by

  • Ripple blockchain’s native cryptocurrency XRP hit its seven-week high during Wednesday trade.
  • The gains came as a part of a broader cryptocurrency market uptrend that saw every high-cap token painting fresh local highs.
  • But XRP’s interim uptrend could run out of breath as price tests a strong technical resistance.

XRP, the cryptocurrency that finds use in Ripple’s blockchain payment protocol, was trading higher during Wednesday’s trading session.

The fourth-largest crypto token surged 8.26 percent into the day to hit a seven-week high at $0.231. Its move uphill brought its net rebound up by 103 percent, more than a month after the price fell to the year-to-date (YTD) low near 0.114. At its highest in 2020, XRP was trading at $0.346.

Driving Under Influence

XRP wasn’t the only cryptocurrency registering gains. Its strong performance was reflected in the rest of the cryptocurrency market.

After the epic crash in March, all the coins rebounded to negate their losses, with Bitcoin,…

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