XRP Observes a Strong Rally That Has Pushed It to 3-Week High
One of the largest cryptocurrencies “XRP” has managed to live up to its rank and reputation in the cryptocurrency market in the latest trading sessions.
The digital asset has continued recording strong rallies that have pushed its price higher. Even the Friday trading session has proven to be a strong and bullish day for XRP.
The Friday trading session is reportedly the fifth consecutive day that the trading price of XRP has continued surging.
XRP Price has hit a Three Week-High
Although the majority of the cryptocurrencies are recording a downslope movement, XRP has continued moving higher for the fifth consecutive day.
However, the asset has not only set a new record for its price during the harsh times but it has also hit a three-week high. This is also another phenomenal achievement for XRP given the current market situation.
XRP’s Price Action
On Thursday, the trading price of XRP was hovering at a low of $0.3792. However, as the rally continued for the third consecutive day, XRP’s trading price rose all the way up to the intraday high of $0.4169.
It is quite remarkable for XRP to be hitting highs even when the market trend is bearish in general. It shows that the bulls are not losing their confidence and they are continuing with their strong rally.
Highest Level since Nov. 8
XRP’s price chart shows that the asset has hit its highest trading level since November 8. It was back on November 8 when the trading price of XRP was at a high of $0.4667.
Things were turning out to be quite normal for XRP’s rally and it peacefully rose to a high of $0.4050. Just as the price of XRP reached a particular level, the aggression level rose from the side of the bulls.
They started to buy XRP on a very large scale, which caused the trading price of digital asset to rise to a higher level.
XRP’s RSI is to Hit 50
At the moment, the RSI for XRP could be seen moving in the upward direction. If the trend continues, then XRP’s RSI will successfully rise to the resistance level of 50.00.
If the bullish sentiments do not weaken, then the trading price of XRP may continue surging. The investors are hoping that with their strong buying sentiments, they will be able to push XRP to $0.50.
After picking up the pace from $0.4050, the price rose to a high of 0.4169 before it started to correct itself. It ended up consolidating at a lower level and at the time of writing, XRP’s price is at $0.4039.