The cryptocurrency market has rebounded and almost all of the top coins are continuing their growth. All of the top 10 coins are in the green zone.
Meanwhile, the dominance rate of Bitcoin (BTC) has come back to 65% on the index. This means that altcoins are weaker than the chief crypto against the ongoing correction of the recent sharp dump.
The relevant data for XRP is below.
Market Cap: $7 382 766 707
Volume (24h): $2 997 652 561
Change (24h): 8.72%
The data is relevant at press time.
XRP/USD: Have any growth patterns formed yet?
When the top coins drop, XRP drops more slowly - and the same can be said for its growth patterns. Its rise has amounted to 8.53% in the past day while Bitcoin (BTC) and Ethereum (ETH) have risen by more than 10%.
The rate of XRP has risen around 30% in the past 5 days. The short-term forecast remains bullish as, based on the volume analysis, there is high demand for the coin.
However, XRP is about to settle in a sideways trend for the next few days to consolidate efforts for the continued bullish trend that has been foreshadowed by the support line of the Bollinger Band indicator. In this case, traders can expect XRP to trade between $0.17 - $0.18 shortly.
On the daily chart, the picture is even more positive. The level of buying trading volume is absorbing the selling volume of the recent dump. At the moment, XRP is forming a Triangle pattern with a $0.20 level. If buyers can remain above $0.18, it will reach said resistance level by mid-April.
XRP is trading at $0.1676 at press time.