XRP Chills About Support And Aims Higher, Will It Breach $0.5?

The crypto market is bouncing from daily support levels with XRP outperforming larger cryptocurrencies, such as Bitcoin and Ethereum. This token has been trending to the upside and moving against the tide even when conditions were unfavorable on small timeframes. Related Reading: Regulatory Scrutiny Threatens Ethereum’s Rise, Will It Succumb Under Pressure? At the time of writing, XRP’s price trades at $0.49 with a 3% profit and 9% profit in the last 24 hours and 7 days, respectively. With the exception of Bitcoin, larger cryptocurrencies are recording sideways movement or negative performance as XRP bounces. XRP Takes Impulse And Aims For Higher Levels During today’s trading session, the crypto market lost momentum and was rejected by previous support. For Bitcoin, this area was located at around $19,800, while XRP retraced to around $0.48. According to pseudonym trader, this area operating as critical support is at the top of a pattern that could be hinting at further gains for the cryptocurrency. As seen in the chart below, XRP’s price formed a descending triangle pattern. Over the past week, the cryptocurrency managed to bounce from the lower levels of this pattern and scored a successful breakout with a re-test of support. These elements hint at an extension of the bullish momentum with a potential target at $0.50, XRP’s major resistance level. The pseudonym trader noted the following while sharing the chart below: $XRP H...