Hey everyone! Dr-CriptoZ doing today's analysis and if you remember, in my Top 5 , I mentioned that XRP had a lot of growth potential this year. Well, the charts don't lie!
If you look at the 4-hour chart of XRP/USDT, you can see an impressive move. Over the past few hours, XRP has seen a +6.70% jump, taking it to 0.5618 USDT (approximately $11.07 MXN). This kind of movement is not seen every day, and the 24-hour trading volume of 349.92 million XRP is proof that something big is happening.
The technical signals are clearly in favor. XRP has broken above the key 7-, 25-, and 99-period moving averages, which means that the market is gaining strength. The RSI(12), at 74.66, tells us that XRP is in overbought territory, which could mean a mild correction in the short term, but letâs not forget that momentum is what matters in these cases.
Many of you asked me why I included XRP in my list of recommended cryptocurrencies for 2024. The answer lies in moves like this. Institutional demand is on the rise, and with the backing of such solid volume, XRP continues to show that it is here to stay. And watch out! The high price of 0.5884 USDT reached in the last 24 hours could become the next key resistance.
So, if you've already taken the recommendation and have XRP in your portfolio, congratulations! And if you haven't yet, you still have time to jump on the bandwagon before it reaches new highs. As always, do your research and stay informed before making any investment decisions.
See you in the next analysis.
âDr-CriptoZ
