A bullish mood prevails even on the last day of the work week. However, if yesterday Bitcoin (BTC) was the fastest growing crypto, today, the situation has changed. Bitcoin Cash (BCH) has risen by more than 10% over the previous 24 hours.
Meanwhile, market capitalization keeps rising and the current index constitutes $359 bln.
The relevant XRP data today:
Market Cap: $13,823,417,558
Volume (24h): $2,299,139,872
Change (24h): 2.45%
The data is current at press time.
XRP/USD: Can XRP grow faster than most of the other altcoins for a while?
Yesterday, in the first half of the day, the XRP price balanced at around $0.30. In the second half, buyers tried to continue the recovery, but they failed to gain a foothold above the $0.310 level.
One continues to look forward to supporting the two-hour EMA55 and expects it to update to local peaks. If buyers are able to form a bullish momentum, it will be possible to establish a new annual high in the $0.35 area.
XRP quotes have confidently broken through the upper border of the ascending channel, which serves as a strong signal for continued growth of the value of the asset. The nearest resistance is located at the level of $0.3470, the breakdown of which will cause a rapid rise to the level of $0.4845.
An additional signal in favor of the variant with the continuation of the bullish impulse will be a rebound from the trend line at the RSI, where buyers were able to confidently break through the resistance.
On the 4H time frame, quotes rise within the ascending channel. The price is constantly bouncing off the moving averages, which indicates the strength of the current trend. Here, the "triangle" model is formed, the upward breakdown of which, with price fixing above the $0.3280 level, will confirm the confident continuation of growth toward the target at $0.3825. Another bounce off the RSI support line will also favor this option. Cancellation of this option may be a breakdown of the lower border of the "triangle" figure with price fixing below the level of $0.2695. In this case, one should expect a further decline to the level of $0.2130.
XRP is trading at $0.3087 at press time.