Altcoins News
By TCA PR
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XRP’s First Target
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The recent climb above the resistance of $0.2400 is a job well done for the XRP bulls. The third largest crypto asset by market cap is gradually rising and shows positive signs…
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The price of XRP is trading above the $0.2200 and many XRP enthusiasts look forward that it could hit the $0.3000 level.
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In addition, the XRP/USD pair comes with a strong support on dips close to the levels of $0.2400 and $0.2320 in the next days.
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Traders continue to turn bullish on XRP and consider $0.30 as the first target.
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Crypto trader and analyst Galaxy noted that the recent market behavior of XRP displays some signs of strength.
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Meanwhile, XRP enthusiast Joker shared a monthly chart for XRP saying that the crypto forms a bullish flag. He also noted that the new all-time high for XRP is approaching.
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The previous resistance close to the $0.2400 level will act as a support. However, in the case of downside break below the $0.
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The XRP’s nexr support would be close to $2380 and it would coincide with the Fib retracement level of 50% transferring from $0.2293 low to $0.2464 high.
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As for the key support, it would close to the $0.2320. Below that level, the XRP’s price will potentially struggle maintaining the positive price level in the next few days.
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Is the Surge of XRP Remain Dependent on Bitcoin?
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Despite the readiness of XRP to break higher, its price remains dependent of that of Bitcoin. In short, if BTC does not rally, then XRP will not either.
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Fortunately, the XRP bulls can gain strength in the near term because the Bitcoin’s fundamentals and technicals suggest.
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Whether or not the hash rate and prices correlate between of that of XRP, the fact that miners work harder to take out resources into the mining cryptocurrencies foretell that…
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The crypto market might encountered some challenges during the first weeks of the year, major altcoins like XRP trade well. It actually gained 15% weeks ago.
The Currency Analytics
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