XRP did not just rally on the upside trend, but has also been registering remarkable figures and signs in wake of a much awaited bull run.
Earlier, NewsLogical reported that XRP, for the first time since 2018, went past the 100 SMA line after surging past $0.30 psychological resistance level. In the same bullish manner, the remittance-oriented cryptocurrency has reclaimed it 2017 resistance level, lead technical analyst at prominent crypto research company Blockfyre, Pentoshi has said.
The cryptocurrency analyst observed the trend of XRP in recent times, concluding that the cryptocurrency has officially began a bull run.
In the last few weeks, the XRP has been up and doing in the market, breaking a number of barriers and multi-year bear that has long impeded it rise upward. Within the last 30 days, XRP has managed to add about 60% percent to its value.
Pentoshi said XRP, since the market started printing higher high, has just registered its highest weekly close. The higher high showed for the first time since the last 959 days.
The experienced crypto analysts acknowledged the fact that XRP has been able to surpass the $0.30 level. He furthered that the $0.30 level has acted as XRP’s resistance in 2017 before its price exploded in the market.
Pentoshi also pinpointed another important point about XRP’s ongoing performance. He said XRP has also reclaimed its 2018 support level, this made him conclude that “this should be the official start of it’s [sic] bull run.”
XRP’s Biggest Breakout since 4 Cents Underway – Crypto Bitlord.
Avid XRP lover and prominent cryptocurrency trader Crypto Bitlord is also bullish on XRP price.
Crypto Bitlord, who at one time threatened to hard fork XRP to create a new crypto due to his dissatisfaction with Ripple’s attitude towards XRP, said the cryptocurrency is gearing up for a big bull run.
He explained that the bull run would be the biggest one since XRP hit $0.4 price. The crypto trader added that due to the hope he has in the cryptocurrency, he’s not planning to sell his XRP holding anytime soon.