Charted: Why Ripple (XRP) Could Outperform Bitcoin And Ethereum In Short-Term

Charted: Why Ripple (XRP) Could Outperform Bitcoin And Ethereum In Short-Term
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Charted: Why Ripple (XRP) Could Outperform Bitcoin And Ethereum In Short-Term

NewsBTC2 weeks ago
Published on February 23, 2021 07:18 GMT+0edited on February 23, 2021 08:01 GMT+0

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Ripple remained stable above $0.5000, while there were heavy losses in bitcoin and ethereum against the US Dollar. XRP price is likely to start a fresh increase above $0.5500.

  • Ripple failed to clear a major hurdle at $0.6500 and corrected lower against the US dollar.
  • The price is now trading near the $0.5200 support and the 100 simple moving average (4-hours).
  • There is a major bullish trend line with support at $0.5150 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh increase as long as there is no close below $0.5000.

Ripple’s XRP Price is Holding Key Support

Recently, there was a sharp upward move in ripple’s XRP price above the $0.5200 resistance zone. The price surged above the $0.6000 level and it settled above the 100 …