Tuesday, 4 February 2020

XRP And XLM Look To End Their Losing Streak



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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