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XRP Price Could Soon Surge Above $0.60, Technical Analysis Shows

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Wed, 5/06/2019 - 15:30
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XRP Price Could Soon Surge Above $0.60, Technical Analysis Shows
Cover image via www.123rf.com
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It’s XRP time!  

The price of XRP, the second biggest altcoin by market capitalization, is on the verge of a major breakout. XRP price could soon surge above $0.60, technical analysis shows. Thus, it would allow allowing Ripple’s token to surpass Ethereum once again.

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Technical indicators play into the hands of XRP bulls, image by AMBCrypto/Trading View

As reported by U.Today, Ripple’s XRP was about to from a golden cross pattern, a much-coveted indicator for the bulls.

In such a case, the cryptocurrency would be able to make up for its subdued rally in 2019 (the returns of XRP investors look more modest compared to those who opted for other coins).

Related


As of now, traders should watch closely whether XRP would be able to form the Adam and Eve double bottom pattern, which is an important trend reversal signal.

When Bitcoin formed this pattern back in February, it served as a confirmation of the top coin had already bottomed out in December. Bitcoin rallied to more than $9,000 before a recent pullback.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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