RATE Group | XRP’s 10% Jump to $0.21 Is a Bull Trap: How Far Will It Fall?
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XRP’s 10% Jump to $0.21 Is a Bull Trap: How Far Will It Fall?

13 Jan XRP’s 10% Jump to $0.21 Is a Bull Trap: How Far Will It Fall?

Posted at 00:24h in Cryptocurrency News by

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Over the past few days, XRP, like Bitcoin and other top cryptocurrencies, has been seeing bullish price action. Since bottoming around $0.18 earlier in December, the second-largest altcoin by market capitalization has rocketed higher, rallying as high as $0.225 as bulls have stepped in.

XRP's 10% Jump to $0.21 Is a Bull Trap: How Far Will It Fall? 1

 

 

 

 

 

 

 

 

 

 

 

 

The price of the cryptocurrency has since retraced to $0.215, with bulls failing to maintain the upward momentum due to a pullback in the price of Bitcoin, which remains 3.5% shy of the weekly high.

Although it appears that BTC is ready to break higher, a cryptocurrency analyst is skeptical that XRP is ready to head higher with the leading cryptocurrency and the rest of the digital asset market.

XRP In Bull Trap, Analyst Asserts

Cryptocurrency trader Joe Saz recently sat down with BlockTV, an industry video-centric media outlet, to talk the latest in this nascent market.

After discussing BTC’s potential bullish prospects and the…

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