Ripple (XRP) Price Mirrors its Previous 2017 Bull Rally

Ripple (XRP) Price Mirrors its Previous 2017 Bull Rally
  • Ripple price mirrors its past 2017 bull rally.
  • XRP continues with its price drop and sheds its gains every minute.

One interesting topic in the crypto space is Ripple (XRP), as the lawsuit updates tend to provide a boost. In a recent update, the SEC accepted that Ethereum (ETH) is not a security, and kept XRP away till now. Moreover, XRP continues with its price drop and sheds its gains every minute. 

According to CoinMarketCap, the Ripple (XRP) price is trading at $1.09 with a 24-hour trading volume of $3,044,876,804, at the time of writing.

XRP/USDT Price Chart (Source: TradingView)

The above chart clearly shows that the price of XRP mirrors the 2017 bull rally. This might lead the XRP price to hit $8 soon. Notably, the XRP price can presently lose the grip over the uptrend position as it breaks out from the symmetrical triangle. 

XRP/USDT PrIce Chart (Source: TradingView)

The chart above shows the ADX of XRP which stays at 17.87, so it indicates a weak trend. As shown in the chart, RSI remains at 47.87. Henceforth, this shows that XRP’s price is in a neither overbought nor oversold state. However, this shows that traders can trade fearlessly.

In addition, the rumours are spreading around that Coinbase is relisting the asset. Furthermore, the Ripple & SEC case is in many confusion as it does not have any evidence. Once everything is settled, XRP price will hit higher highs without any drop.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.