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XRP to Face a Rally After the Pullback as per Some Indicators

Gaurav Roy by Gaurav Roy
August 15, 2021
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San Francisco, CALIFORNIA – XRP bounces back to an over $1-trading price after its low last July. However, indicators foresee a rally after the pullback.

This digital asset almost increased to a three-month high after the bullish uptrend. However, the run-up of this crypto caused overvaluation risks. It increased the probability of a pending pullback on its price.

The XRP/USD was 11.78% higher to hit $1.20, the first since May 22. The gain seemed to be a part of a usual trend that began July 20 when the price traded at $0.154. The week-to-date retracement of this pair was 134%.

As per the recent bullish movement of XRP, the market recorded two classic indicators, and these will estimate impending corrections on prices.

XRP to Face a Rally After the Pullback as per Some Indicators
Two indicators show a possible rally after the price-pullback of XRP.

The RSI or Relative Strength Indicator was the first indicator, and it signifies price changes to assess oversold or overbought conditions. The RSI was from zero to 100, and the reading recorded 30 oversold and 70 overbought conditions.

Once the RSI remains over 70, it will trigger enthusiasts to sell their XRP tokens at higher prices, protecting maximum profits. Once it drops lower than 30, it makes opportunities for them to purchase XRP at a lower rate.

There were excessive valuations on the daily RSI of XRP/USD after having over 70 conditions. There was a sell-off close to its usual high, which is at $1.20, and it drops to $1.14.

As per the second indicator, Bollinger Bands, envelopes are at a typical deviation level over and under the SMA or Simple Moving Average of the price. The goal is to measure the volatility of the asset as per its distance from its upper to lower band. It will move back to its band area once the trading price moves out.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: altcoinbullish movementcrypto marketcrypto tradingcryptocurrencydigital assetindicatorsoverboughtoversoldrallyRSISMAtrading
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

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Broadening Financial Access

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The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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