XRP Resistance and The Market

The Bit Journal Editor
By The Bit Journal Editor Add a Comment
2 Min Read

Since it hits the ground on Dec. 19, XRP has entered the upper zone, gaining around 7% of its value in less than two weeks. Such a meeting is not really expected, due to the current market situation and the lack of news coming out of the market for XRP in the space.

However, it seems that an important moment for cryptocurrency has come. A few days ago, XRP reached a regional stop on the intraday chart shown by a moving average with a period of 50 candles. bullish or bearish. In the case of breakouts, traders often receive signals of change and act on it.

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In the case of XRP, the coin overcame the above-mentioned resistance and did not break due to the low volume of purchases in the market. The lack of energy that will help the coin to break the stability shows the lack of basis behind the local high position, making it worthless.

It is likely to act as an extended downward movement. If we look at the long term, we will clearly see that there is no significance of XRP’s recent movements. We may see the coin continue its journey to new lows instead of finding ground for a strong recovery.

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Disclaimer

The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.

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