RATE Group | Ripple (XRP) Is Surging: Here’s How It Can Fuel Bitcoin’s Rally
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Ripple (XRP) Is Surging: Here’s How It Can Fuel Bitcoin’s Rally

29 Apr Ripple (XRP) Is Surging: Here’s How It Can Fuel Bitcoin’s Rally

Posted at 07:12h in Bitcoin News by

Ripple is up more than 10% and it broke the key $0.2000 resistance area against the US Dollar. XRP price is showing positive signs, suggesting a similar breakout in bitcoin above $8,000.

  • Ripple price succeeded in clearing a major resistance near $0.2000 against the US dollar.
  • There was a sharp upward move above the $0.2120 and $0.2150 levels.
  • To start the recent rally, a major contracting triangle with resistance near $0.2020 was breached on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair traded to a new monthly high at $0.2185 and it is currently consolidating gains.

Ripple Price Rallies 10%

In the past few days, ripple made a couple of attempts to clear the $0.2000 resistance. XRP price formed a strong support base above $0.1920 and finally managed to surge above the $0.2000 hurdle (as discussed in yesterday’s analysis).

To start the recent rally, a major contracting triangle with resistance near $0.2020 was breached on the hourly chart of the XRP/USD pair….

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