Ripple overview: XRP/USD jumps to $0.37, gaining 10% in a matter of an hour
|- XRP/USD bull’s trend gets back on track.
- Critical $0.38 comes into focus.
Ripple’s XRP has been growing strongly since the beginning of the day. The third largest coin with the market value of $15B recovered the intraday losses to trade with over 5% gains on a day-on-day. It is also worth noting that the price growth is accompanied by a surge of trading volumes.
The movement seems to be triggered by speculative sentiments and technical factors as a move above $0.3400 handle triggered stops and brought new short-term buyers to the market. Meanwhile, a spike above $0.35 increased the upside momentum. At the time of writing, XRP/USD is knocking at $0.3700, though the situation is fluid.
If we see a strong move above $0.3700, DMA200 at $0.3786 and psychological $0.3800 will come into focus. It is followed by critical $0.40.
XRP/USD, 1-hour chart
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