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

??2019 wasn’t particularly kind to XRP, but everyone’s favorite remittance is currently poised for big gains⏳ ?

Wed, 5/06/2019 - 15:30

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

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.

XRP is about to shine — 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).

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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.

#XRP Price Analysis

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.