The crypto market is displaying a bit of laxity after a momentary rally on the upward channel yesterday, however, there are still glimpse of hope for the bull market as most coins remain above their crucial supports.
In line with the assertion from analysts that XRP has been exhibiting significant independence away from Bitcoin’s overwhelming power, the third largest cryptocurrency stands imposingly amongst its contemporaries.
At press time, XRP shows profitability with green display. XRP continues to trend up, closing on its $0.3 resistance level. XRP is now eyeing another upward growth toward the upper band area $0.4.
Due to the resilient movement of the cryptocurrency, XRP remains a major focus for experts as they portray it as another digital asset aside Bitcoin that can lead the way out of the bear clearly.
Hence, a top cryptocurrency analyst christened Moiseiev Yurii on Trading view, after observing the trend of XRP since the beginning of the month, believes XRP price is close to the bottom part of upward channel.
Moiseiev made the assertion based on the continuous upward trend of the cryptocurrency since the start of the month. Moiseiev affirms that XRP fractal is on the upward channel, adding that the price of the token is near the bottom of this channel.
Moiseiev averred that the digital currency is on the verge of breaking its previous high at $0.3050, and this remains it resistance.
Image Credit: TradingView
XRP is at present priced $0.295 against the US Dollar with over 1.3% gain in the last 24 hours, an indication it is very close to breaking the resistance line.
Moiseiev, in his analysis, hopes for a huge rally towards the ceiling especially if a break above the resistance line is achieved soon.