bullish

when

<ul>
 <li>Market participants often see the golden cross as a robust bullish indicator.</li>
 <li>If the price manages to break above $0.58, then it will likely re-test $0.63 level.</li>
</ul>
Crypto market was rather dull on Sunday, with minimal volumes and brief rebounds recorded by most cryptocurrencies. <a href="https://thenewscrypto.com/u-s-spot-bitcoin-etfs-see-positive-inflows-amid-volatile-market/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> price is stuck in a tight range. Despite making steady progress toward the $60,000 barrier, BTC is still quite volatile.
The price of <a href="https://thenewscrypto.com/ripple-xrp-price-slips-as-holders-take-profits/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> remains low at $0.57, even if there has been positive court news and major wins against the SEC. However, the present price is rather decent, especially when compared to the pre-legal win level, which was approximately $0.42.
A golden cross is going to appear for XRP soon. Market participants often see this as a robust bullish indicator, suggesting that XRP’s price may experience a substantial increase in the near future.
<h3 class="wp-block-heading" id="h-bullish-projections">Bullish Projections</h3>
There is the possibility of a positive continuation. Once the golden cross happens and XRP starts to move in a bullish trend, the next significant milestone to watch is around $0.60. Breaking over this level would pave the way for XRP to challenge $0.65, a substantial resistance level that has been tough to overcome in the past.
At the time of writing, XRP is trading at $0.57, up 1.1% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 20.15%. The price found support at $0.44 level after the market faced a severe downward pressure on August 5. From this level, the price spiked and reached $0.63 level. However, the price faced strong resistance at this point and a correction took place.
If the price manages to break above $0.58, then it will likely re-test $0.63 level. Conversely, if the price falls below $0.55 level, then it will likely test 0.44 support level.

XRP Price Approaches Key Golden Cross Amidst Trading in Tight Range

Table of Contents

TheNewsCrypto

Other articles published on Aug 19, 2024

Major Blockchain Events from August 19-25: ICOs, Token Unlocks, and Key Updates

Japanese Yen Gains Strength Quickly

Dubai’s RAKBANK teams up with Bitpanda to offer crypto to UAE residents

Bitcoin (BTC) Short Positions May Be Getting Ready to Explode, According to Latest Data! Here Are...

94% of TRX holders in profit amid quick price recovery

Decentralized Web3 AI firm Theoriq joins Google startup accelerator

Join our free newsletter for daily crypto updates!