Has XRP accumulated enough efforts for a retest of $0.75?

Denys Serhiichuk U.Today

The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins remain trading in the green zone. Cardano (ADA) is the only loser, falling by 1.78%.

Top 10 coins by CoinMarketCap

The market capitalization index keeps going up and is now $1.5 trillion.

Cryptocurrency market capitalization

The relevant data for XRP is looking the following way

Name: XRP.
Ticker: XRP.
Market Cap: $27,034,447,004.
Price: $0.5954.
Volume (24h): $10,539,466,770.
Change (24h): 0.60%.

The data is relevant at press time.

XRP/USD: Can XRP get the growth to $0.75 next week?

The rate of XRP is almost unchanged over the last day. The rate of the altcoin has gone up by 0.60%.

XRP/USD chart by TradingView

On the hourly chart, XRP is about to restest the liquidity zone at $0.61 shortly. Such a scenario is possible as the selling trading volume is slightly going down.

XRP/USD chart by TradingView

On the bigger time frame, the situation is less bearish as the current liquidity is not enough for a continued rise.

Respectively, there is a high chance of seeing XRP trading at the MA 50 level around $0.51 next week.

XRP/USD chart by TradingView

On the daily chart, the growth price action remains the most likely scenario if bulls keep trading above $0.53. Thus, XRP is trading within the ascending channel that confirms the ongoing power of buyers. All in all, the local resistance at $0.75 may be tested next week if the trading volume increases.

XRP is trading at $0.5830 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

U.Today

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

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