- XRP saw a 3% spike, reaching $2.47.
- Its 24-hour volume has jumped by over 182%.
The crypto market opened the trading day with mixed signals across the assets, oscillating between green and red price charts. Notably, Ripple’s XRP has emerged as the top gainer and one of the trending tokens on the 24-hour list. The asset has posted a surge of over 3.48%.
The recovery attempt of XRP made it trade within the $2.47 range at the time of writing. With a market cap of $144 billion, the daily trading volume has reached $11 billion. Furthermore, the XRP market has witnessed a $33.94 million liquidation, as per Coinglass data.
Besides, XRP began trading the day at a bottom level of around $2.38. The bulls came in command and sent the price to the peak of $2.64, breaking the crucial resistance between the $2.44 and $2.59 ranges.
Over the last seven days, XRP has posted an 18.70% gain. The week began trading at around $2.11, and the bullish shift has pushed the price to the current trading level.
XRP Price Battle: Can Bulls Maintain Control?
XRP’s four-hour price chart exhibits a brief uptrend, signalling a trend reversal. With the mixed sentiment, the green and red candles have formed often. The asset could move up to $2.51. If the potent bulls sustained, it might invite the golden cross to form and propel the price to hit the $2.60 level.
Assuming the asset’s price generates a cautious graph, the bears could take control. XRP might plummet below $2.38 and initiate the death cross to pull the price toward its former lows. More losses trigger XRP to retrace to a low range of $2.30. This likely acts as a crucial trading point.
Moreover, the asset’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line, pointing at a brief bullish condition. Also, the price could potentially trigger an upward price movement, with buying pressure in the market.
XRP’s Chaikin Money Flow (CMF) value of 0.21 implies that the capital is flowing into the asset than out, with buyers in control of the market, which is generally bullish sentiment. Meanwhile, the daily trading volume of the asset has surged by over 182%.
The daily Relative Strength Index (RSI) is staying at around 58.18, suggesting the asset is in neutral to slightly bullish territory. There is room for further upside before XRP reaches an overbought condition. In addition, the Bull Bear Power (BBP) reading of 0.0049 indicates that the bulls are slightly stronger than the bears.
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