Categories: CryptoNews

XRP Price Regains Control Over $0.31 as Momentum Turns Mega Bullish

It is very uncommon for all crypto markets to turn bullish at the exact same time. Albeit most of this stems forth from the symbiotic relationship with Bitcoin, it is evident this development wasn’t entirely expected. The XRP price, while not a cryptocurrency, is going pretty strong as well. Retaking the $0.31 level was the first order of business, although there’s still a lot of work to be done.

XRP Price Bull run is Impressive

When it comes to digital assets, they often tend to correlate less with Bitcoin’s price momentum. Over the past few months, that has become somewhat of a different story, primarily where

XRP is concerned. In fact, this popular asset has virtually been a mirror image of Bitcoin in terms of its price momentum. Not the trend people are looking for by any means.

On today’s chart, however, this correlation works in favor of Ripple’s native asset. That in itself is a bit surprising, although it may also be a welcome change of pace. Following a strong 7.1% increase, the value per XRP now sits at $0.3138 again. A big improvement compared to the $0.29 level just two days ago. No uptrend is noted in XRP/BTC, as the asset loses 0.8% in this department.

It is evident the current price momentum has taken a lot of people by surprise. Alistrago shares how bullish the chart has become in the past few hours, even though it would appear some negative pressure has begun materializing. Nothing alarming just yet, but this uptrend may not remain in place for long.

To put this in perspective, CryptoHawk expects another leg down to materialize fairly soon. This leg down is the precursor of a push to $0.38 or slightly higher in the coming weeks. It is not unlikely this scenario will play out, although these volatile markets tend to prove technical analysis fans wrong virtually every other day.

Related Post

For those who are not willing to chase the XRP top right now, exploring price differences between trading platforms can yield some good money as well. Several arbitrage opportunities have become apparent where this digital asset is concerned. All of the potential profits are more than respectable, even though they may not be available for much longer.

All things considered, it would appear there is genuine positive momentum brewing on all fronts. Unfortunately, weekends tend to disrupt the overall market trend in a negative manner. This week may not necessarily be different in that regard, although it is still too early to draw any real conclusions in this regard.

This post appeared first on Null TX.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Published by
JP Buntinx

Recent Posts

Crypto Veteran Investor Explains Bollinger Bands and How To Spot Gems Like Cardano and Bitcoin Spark

In the world of cryptocurrency investments, having the right tools and strategies at your disposal…

2 hours ago

October Historically Is A Good Month For Cryptocurrency Market, Here’s Why You Should Buy In Now

October has historically been a good month for Bitcoin and the cryptocurrency market. In the…

5 hours ago

Why THORChain, Tradecurve Markets, The Graph Are Leading the Future of DeFi

The BNB Smart Chain recently launched on top of THORChain (RUNE). Moreover, The Graph (GRT)…

7 hours ago

Chainlink (LINK) vs. Solana (SOL): Everlodge (ELDG) Emerges as the Ultimate High-Reward Alternative

Chainlink (LINK) and Solana (SOL) are two of the most popular blockchain projects, but their…

7 hours ago

A Shift in Power? Pomerdoge (POMD), Toncoin (TON), and Maker (MKR) Claim Top Gainer Status

In a surprising shift of power in the cryptocurrency market, Pomerdoge (POMD), Toncoin (TON), and…

7 hours ago

A Look At Current Social Metrics As $PEPE Leads The Way In The Top 10 Trending Searches On LunarCrush

Social media is a powerful tool for investors of all kinds, but it is especially…

21 hours ago