Is the ripple course ready for a short-term upswing?
XRP, like Bitcoin and many other important altcoins, has risen sharply from its highs in the past few days and weeks 2020 from 0, 35 $ to the latest lows of less than 0, 10 $ fallen. Although Ripple has now risen from these lows, it is vulnerable to further short-term drops due to the instability of the aggregate market.
Despite its obvious bear market, a trader notes that he believes it may be time to “accumulate” the cryptocurrency as some simple factors could allow XRP to rise in the coming days.
Interaction of bullish factors suggests that XRP could rise higher soon
At the time of writing, XRP will be at its current price of 0, 148 Dollar traded. This volatile recovery occurred in parallel with the recovery of Bitcoin to a high of almost 5. 500 $.
Calmly – a crypto trader on Twitter – recently said in a tweet that he believes the cryptocurrency is well positioned to experience some upward momentum in the coming days and weeks:
“XRP: I think it's unfortunately time to start accumulating the world currency. 1. The XRP / BTC chart looks like monthly support accumulation. The Bitcoin pair held up during the crash. 2. The USD pair is in my long-term support zone. This level even held up during the crash, ”he explained.
# Ripple / $ XRP – welcoming, I think it's time to start accumulating #Ripple
1 The $ XRP / $ BTC chart looks like accumulation at monthly support. The #bitcoin pair held up during the crash
2 The $ USD pair is at my long term support zone. Even during the crash this lvl held pic.twitter.com/lRqxjgCrzE
– Calmly | full-time trader (@im_calmly) March 14, 2020
How high could the short-term crypto rally be?
Regarding the question of how high the cryptocurrency could rise in the near future, trader Calmly notes that his current upside target is around 0, 274 dollar, which could be reached in the coming weeks.
# Ripply / $ XRP – It's’s time. pic.twitter.com/SS9z4kaQih
– Calmly | full-time trader (@im_calmly) March 16, 2020
Proof of text: newsbtc
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