XRP to Hit New 52-week Highs – Are There Doubts From Analysts?

California, USA – XRP heads to a $1.50-trading price, showing stability with over 20, 50, 100, and 200-day MA or moving average. However, there are doubts if it can reach 52-week highs after the trend shows a bearish trend, with support levels of $0.84 and $0.74, while the resistance levels are $0.84 and $0.74.

XRP projected signs of steadiness over its important DMA after hitting a bull run when it reached the trading price of $1.50. It trades above all major MAs, which are 20, 50, 100, and 200-days. Moving to the short-term MAs of 20 and 50, the trend is moving to the major MAs of 100 and 200-day lines.

The volume increased as per the monthly chart, but improvements are necessary for the next trading sessions. The support is at the trading price of $0.84 and $0.74, while the resistance is on the higher side, which is $1.38 and $1.64.

The Relative Strength Index or RSI shows a bearish trend in the weekly chart, where the RSI heads to the oversold area after it tested the overbought area.

XRP to Hit New 52 week Highs Are There Doubts From Analysts
XRP faces another drop after reaching the $1.50-trading price this week.

This week, XRP recorded a bullish trend with growth in its volume, yet the price decreased to $1.21 after hitting $1.50. There’s a possibility for short-term profit-taking after the bullish trend’s lap as well. However, the price dropped to $1.19 in the past 24 hours. The trading volume of XRP might have increased by 73% in the past week, yet the performance of this cryptocurrency led to a drop by 0.13%.

According to the chart, there’s a comparison between the volatility and price movement of this cryptocurrency in the last 24 hours and last week. The Bollinger Bands, which measure the crypto’s volatility, are weekly and daily price movements.

The market capitalization of this crypto is not at $55.21 billion, and it remained as the Top 6 among the best cryptocurrency as per market capitalization.

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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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