Market analysts are watching Ripple\u2019s XRP for a potential price surge against the world\u2019s leading digital currency, Bitcoin.<\/p>\n
XRP, known for its lightning-fast transaction speed and secure blockchain technology, has recently experienced a rollercoaster ride due to its lawsuit with the US Securities and Exchange Commission.<\/p>\n
However, an XRP and BTC chartist, Cryptoes, predicts a trend reversal for XRP based on current indicators on the chart.\u00a0<\/p>\n
The performance of XRP since the beginning of April has been very low compared to that of Bitcoin. This led to a notable decline in the XRP\/BTC pair over the last five weeks.<\/p>\n
Its poor performance does not affect how certain analysts picture the token. The positive view of XRP\u2019s price can be attributed to a key support level at its current position.<\/p>\n
Cryptoes called crypto enthusiasts\u2019 attention to this occurrence in a tweet<\/a>, revealing that the weekly chart of the XRP\/BTC pair projects a major support level. The chart revealed that XRP\u2019s price had slowed against Bitcoin\u2019s since April 3.<\/p>\n However, the support level could prevent further decline of XRP tokens as it might be the bottom point. He added that the token might consolidate for weeks before initiating a rally.<\/p>\n Another popular crypto analyst, Egrag<\/a>, has a different view from Cryptoes. According to him, the market currently projects a bearish trend.<\/p>\n His reason is hinged on the movements of two Simple Moving Averages (SMA), the 20 and 100 moving averages on the same chart.<\/p>\n According to Egrag, the 20 Simple Moving Averages (SMA) place sell pressure on the coin\u2019s price. As such, the 100-moving average is a strong resistance against the current price of XRP. It could be difficult for the token to break out from such resistance.<\/p>\n He believes that the presence of these indicators signals market weakness, and XRP could yield to them. But time will tell if XRP will pump to close above the falling wage.<\/p>\n There is no significant difference between XRP\u2019s price at the beginning of May and its current price of $0.4286<\/a>. On May 1, the coin was trading around the $0.47<\/a> price mark, which eventually declined to $0.465 at the close of the day.<\/p>\n It maintained this price range between $0.45 and $0.46 over the next seven days and dipped slightly to $0.4186 on May 8. Since then, it has been hovering around the $0.41 and $0.42 price levels.<\/p>\n In the past seven days, it has declined by 7.25%. However, its 24-hour price trades sideways at the time of writing, while the trading volume and market cap have also increased by 18.45% and 1.93%.<\/p>\n -Featured image from Pexels, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Market analysts are watching Ripple\u2019s XRP for a potential price surge against the world\u2019s leading digital currency, Bitcoin.<\/p>\n XRP, known for its lightning-fast transaction speed and secure blockchain technology, has recently experienced a rollercoaster ride due to its lawsuit with the US Securities and Exchange Commission.<\/p>\n However, an XRP and BTC chartist, Cryptoes, predicts a trend reversal for XRP based on current indicators on the chart.\u00a0<\/p>\n The performance of XRP since the beginning of April has been very low compared to that of Bitcoin. This led to a notable decline in the XRP\/BTC pair over the last five weeks.<\/p>\n Its poor performance does not affect how certain analysts picture the token. The positive view of XRP\u2019s price can be attributed to a key support level at its current position.<\/p>\n Cryptoes called crypto enthusiasts\u2019 attention to this occurrence in a tweet<\/a>, revealing that the weekly chart of the XRP\/BTC pair projects a major support level. The chart revealed that XRP\u2019s price had slowed against Bitcoin\u2019s since April 3.<\/p>\n However, the support level could prevent further decline of XRP tokens as it might be the bottom point. He added that the token might consolidate for weeks before initiating a rally.<\/p>\n Another popular crypto analyst, Egrag<\/a>, has a different view from Cryptoes. According to him, the market currently projects a bearish trend.<\/p>\n His reason is hinged on the movements of two Simple Moving Averages (SMA), the 20 and 100 moving averages on the same chart.<\/p>\n According to Egrag, the 20 Simple Moving Averages (SMA) place sell pressure on the coin\u2019s price. As such, the 100-moving average is a strong resistance against the current price of XRP. It could be difficult for the token to break out from such resistance.<\/p>\n He believes that the presence of these indicators signals market weakness, and XRP could yield to them. But time will tell if XRP will pump to close above the falling wage.<\/p>\n There is no significant difference between XRP\u2019s price at the beginning of May and its current price of $0.4286<\/a>. On May 1, the coin was trading around the $0.47<\/a> price mark, which eventually declined to $0.465 at the close of the day.<\/p>\n It maintained this price range between $0.45 and $0.46 over the next seven days and dipped slightly to $0.4186 on May 8. Since then, it has been hovering around the $0.41 and $0.42 price levels.<\/p>\n In the past seven days, it has declined by 7.25%. However, its 24-hour price trades sideways at the time of writing, while the trading volume and market cap have also increased by 18.45% and 1.93%.<\/p>\n -Featured image from Pexels, chart from TradingView<\/em><\/p>\n <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-23986","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=23986"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23986\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23986"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}XRP\u2019s Recent Price Performance<\/h2>\n
Analysts See A Pump In XRP Price Against Bitcoin<\/h2>\n
XRP\u2019s Recent Price Performance<\/h2>\n