- A ton of liquidity has been taken on XRP.
- XRP is trading hands at $0.3458 after a 2.26% increase in price.
- The daily RSI line is also sloped positively towards overbought territory.
The well known crypto trader and analyst Michael van de Poppe took to Twitter earlier today to share some of his insights on XRP and what the price of the token could do in the coming days.
According to the post, “a ton of liquidity has been taken on XRP”. Van de Poppe continued by stating he believes XRP will need to hold $0.33 to be able to make a move upwards.
At the moment, XRP is trading hands at $0.3458 after a 2.26% increase in price over the last day. The crypto is, however, still in the red by more than 1% over the last week.
There has been a surge in buy volume for XRP today after its price temporarily dipped to a daily low of $0.30. The buy volume was able to push XRP’s price back up to its current level, and has left the remittance token’s price right underneath the 9-day EMA line.
XRP’s price may have enough bullish support to overcome the 9-day EMA level if the daily RSI indicator is taken into consideration. At press time, the daily RSI line is positioned above the RSI SMA line following a bullish cross yesterday. In addition to this, the daily RSI line is also sloped positively towards overbought territory.
If XRP’s price is able to break through the 9-day EMA resistance, then the next challenge it will have to overcome is the 20-day EMA line, which also rests on the key resistance level of $0.3561.
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