XRP And XLM Look To End Their Losing Streak
By Michaël van de Poppe
Can XRP Price Rally 180% Again if It Breaks 2-Year Downtrend?
While many altcoins have been showing significant strength
during the recent weeks, some have been lagging. One of these coins is
XRP (XRP), which is still hovering around key support and has yet to show any upwards pressure recently.
Exactly what is keeping XRP pinned under the descending trendline? Let’s find out through the charts.
XRP/BTC faces a 2-year downtrend
The XRP/BTC chart shows the digital asset currently
attempting to overcome the significant downwards trendline. As of late,
many altcoins have been breaking out of their downtrends and notable
examples are Ethereum Classic (ETC), Cardano (ADA) and, even more recently, Icon (ICX).
Ripple seems to be lagging but could be in for a substantial move as well.
The 4-hour chart is showing a clear breakout of a 2-months
downtrend. This breakout was retested a few days ago at 0.00002660
satoshis. Right now, XRP is facing the next big hurdle in the red area
around 0.00002950-0.00003000 satoshis.
Breaking through
this level will seemingly take off the price towards the next hurdle
and maybe trigger more investors to step into this coin. The next target
is found in the 0.00003750 satoshis area.
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