As a seasoned researcher with years of market analysis under my belt, I find myself intrigued by Ripple’s recent performance, especially when paired against both USDT and BTC. The charts suggest a readiness for further rallies, yet there are undeniable hurdles that the market needs to surmount before we can truly celebrate.
Ripple’s price demonstrates a willingness to rally higher on both the USDT and BTC pair.
Yet, there are still some significant levels the market should overcome.
By TradingRage
The USDT Paired Chart
Yesterday, the USDT pair’s price surpassed its 200-day moving average (approximately at $0.55) after a quick recovery from $0.5, on its daily chart. However, the $0.6 resistance area is currently hindering further market growth.
Currently, the Relative Strength Index (RSI) has climbed over the 50% mark, suggesting a switch to a bullish trend in the market. If the price continues to stay above its 200-day moving average, there’s potential for an uptrend towards $0.6 within the near future.
The BTC Paired Chart
As a crypto investor, I’ve noticed that the BTC paired chart appears quite familiar, with the market surging above its 200-day moving average, which is roughly at the 850 SAT milestone right now. The recent price action has been rather bullish, as we’ve managed to break the significant 800 SAT level and move upward.
Therefore, the price will likely rise toward the 1200 SAT area in the coming weeks, as XRP looks set on beginning a bullish trend against BTC.
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2024-09-13 16:38