The News Crypto -
- Ripple XRP price, previously considered stagnant, has experienced a massive breakout.
- The bulls have become aggressive, with XRP’s 24-hour volume surpassing that of Solana.
- With the MACD showing a sudden drop in selling pressure and the bulls gaining control over the rally.
The XRP price, once speculated to be lifeless due to its relatively stagnant behavior since the beginning of the second quarter, has defied expectations by demonstrating a remarkable resurgence.
While other altcoins were receiving sufficient buying pressure at regular intervals, XRP struggled to attract the masses, resulting in a prolonged battle to reclaim levels above $0.55 as bears remained stationed at $0.5, pushing the price lower after each contact.
However, the recent excessive squeeze in the price has led to a massive breakout, propelling the levels within a bullish range. The short-term price action and technical formation suggest that the price has just begun to swell, indicating that the upper target may not be restricted within a specific range.
Bulls Become Aggressive as XRP Volume Surpasses Solana
The bulls have become increasingly aggressive, as evidenced by XRP’s 24-hour trading volume surpassing that of Solana, with a rise of over a billion dollars.
This historic breakout may signify the beginning of a fresh ascending trend, potentially pushing prices close to the $1 milestone.
The long-term price chart has turned bullish, with the levels reclaiming their position within the bullish pattern. XRP price has entered an ascending parallel channel after rising from the lows by over 45% in just two days.
Moreover, the weekly on-balance volume has triggered a bullish divergence, suggesting that the rally has come under bullish influence. Consequently, the XRP price is expected to maintain a healthy upswing for the next few weeks and reach the average levels of the channel.
This article was originally published on thenewscrypto.com
