XRP Price About To Make A New All-Time High Run To $5? Here’s What The Chart Says
Over the past 24 hours, the bullish momentum returned to XRP and the current cryptocurrency is now recovering its $2.5 price level. This bullish momentum is coming Seven days later Resistors are combined in range between $2.5 and $2.3 support. Despite the combined price, technical analysis shows that XRP is still trading in a bullish setting, especially in the daily candlestick time frame. It is worth noting that this bullish setting indicates XRP price Will be done soon Historical new high runs for $5.
Bullish RSI divergence and strong support lay the stage
Technical Analysis The XRP price was released on the TradingView platform, indicating that the cryptocurrency is about to gain the most in the coming weeks. Despite the recent price decline, technical indicators play a crucial role in this outlook and are currently bullish.
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Such technical indicators are Relative Strength Index (RSI)measure the driving force of price changes. RSI flashes bullish divergences over the daily timeframe. This happens when RSI creates a higher low and when the price is lower, which is a signal of an upward reversal.
Additionally, technical analysis shows that XRP managed to maintain strong support at $2 despite the price drop. The ability of XRP to exceed support means that recent sales pressures are not the XRP price weakness that many people expect, but are just the consequences of a wider downturn in the entire cryptocurrency market. As the bullish structure is intact and sales pressure fades, the assets remain strong for reconvening, currently at $5.
Can XRP break its all-time high and rally to $5?
XRP’s all-time high remains at $3.40, and has not returned to that price level since January 7, 2018. However, Altcoin has been one of the best performers this cycle, and this all-time high may not last long. In a recent rally, cryptocurrency soared to $3.36, only facing a sharp rejection of subnational resistance before breaking up new ground.
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Moving to $5 not only marks a new all-time high, but also marks XRP as the best performing XRP this cycle. But the road to this milestone will require cryptocurrency Overcome the key resistance zone, Especially at the $2.8 and $3 levels, sales pressure has already fueled the cycle.
At the time of writing, XRP is trading at $2.51, up about 4.5% over the past 24 hours. if The bullish momentum continues To successfully manufacture and XRP successfully clear these obstacles, the projected $5 target target may be achieved.
Featured images from Adobe Stock, charts from TradingView.com
