Traders Joining XRP Army as XRP “Warming Up” for the Bulls Onslaught
- XRP is among the few top cryptos in green by over 3%
- Golden Cross: Getting ready for long term bullish reversal pattern
- XRP at the current level is either the bottom or it goes much much lower: DonAlt
Since mid-May, XRP has really started to feel the greens as it first surged to $0.34 and then continued to move upwards until it climbed to $0.48. Though it went down to $0.36 level, the cryptocurrency has started to surge yet again as it reaches $0.44 level.
At the time of writing, XRP/USD has been trading at $0.435 with 24-hours gains of 3.21 percent on Kraken exchange.
The world's third largest cryptocurrency by market cap if manages to stay above its current level till this month end, the resulting monthly gain would be the highest since September, last year.
At that time, XRP surged 73 percent which is much higher than this time as XRP is up by only 11 percent in the past 7 days and 25.74 percent till date in 2019. However, with the current level the cryptocurrency might be able to generate much bigger gains in the long term as the technical indicator would turn bullish.
The 50 day moving average (MA) is currently at $0.3434 that is set to cross above the 200-day MA, currently at $0.3470. Once the current average price goes above the historical price, a “golden cross” would be confirmed that indicates long term bullish reversal, per the technical analysis theory.
Mentioned btc pair looked good yesterday, and we've broken out both btc and USD pair
This looks like it is warming up, as both pennants are under re-tests
The way this historically pumps, I imagine many people on here have a bag 😊 pic.twitter.com/VZlJ1buUmu
— The Cryptomist (@TheCryptomist) May 28, 2019
According to crypto trader and analyst, DonAlt, XRP could go up on a major uptrend or make a bigger retrace and he is all set to fill his bags.
I hereby join & summon the XRP army.
Support XRP on its way to glory.
Make this thing moon by all that is holy, join the ranks of XRP.
I think this is either the bottom or XRP goes much much lower.
I'll buy here and I'll buy again in the next green zone if stopped out. pic.twitter.com/EEIdb1L8zt
— DonAlt (@CryptoDonAlt) May 28, 2019
XRP, however, is still 87 percent down from its peak at $3.30 that was recorded in early January 2018. So, the golden crossover may lead to a higher leg up next.
— Squeeze (@cryptoSqueeze) May 28, 2019
Meanwhile, the first bank-owned crypto exchange, Japan-based SBI Holdings’ VCTRADE that has been initially targeted to retail traders is now expanding its services to institutional traders. The exchange offers exposure to four cryptos viz. Bitcoin, Ether, XRP, and Bitcoin Cash.