- XRP is bracing for the biggest run in crypto history, states realXRPwhale.
- The XRP enthusiasts state that XRP is not security, “We will win.”
- The token has been methodically testing the 200-day MA since mid-November.
An XRP enthusiast known as realXRPwhale tweeted that XRP was “gearing up for the biggest run in crypto history.“
Interestingly, in the follow-up tweet, XRP whale stated that the Securities Exchange Commission (SEC) was hurting millions of investors with frivolous lawsuits and was hurting America’s innovation beyond anyone’s imagination. Additionally, towards the end of the tweet, realXRPWhale stated:
#XRP is NOT a security! WE WILL WIN!
Meanwhile, XRP has been trading in the green zone for the past seven days, as shown in the chart below. It started the week trading above its open market price of $0.330. Just hours into the first day of the last week, XRP spiked to $0.350. Following this spike, XRP consolidated its position by fluctuating within the $0.345-$0.350 price range for the next couple of days.
However, after the period of sideways movement, XRP had the lowest momentum and started its descent. During its descent, XRP reached its lowest price of $0.333, also the opening market price, on the fourth day of the week. Nonetheless, XRP gained momentum once again towards the latter part of the week after the descent and rose to $0.3535.
Since mid-November, XRP has been trading in a bullish wedge. When considering the chart below, the token has been testing the 200-day MA methodically. At first, XRP touched the 200-day MA, and later on, it intercepted the 200-day MA. Finally, XRP broke the 200-day MA and rebounded on it.
XRP is now approaching the 200-day MA. It may follow the same testing pattern as it did in the previous month. Moreover, the RSI is at 57.73, which indicates that XRP is neither overbought nor oversold and the trend is well set. The Bollinger bands are widening; this indicates that there could be volatility in the future.
If the bulls dominate the market, XRP could break the 200-day MA and target hitting resistance 1 ($0.4). However, if the bears take over the market, XRP could tank below Support 1 ($0.32).
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