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XRP price is down 4% in the last 24 hours but remains 25% higher on the month to sell for $0.613 starting at 8:20 am EST.
The payments token’s trading volume has increased by 3%, pointing to growing attention after a trader expressed optimism about Ripple’s price.
I just need to maintain 0.61c to continue with the legends. That is my simple request to the bulls this weekend. pic.twitter.com/PgYZkFVho7
– crypto Tony (@CryptoTony__) November 10, 2023
crypto Tony predicted that keeping XRP price above $0.6100 would be a good sign of Ripple’s bullish potential.
Meanwhile, another analyst, Tony “The Bull,” has noted how the Bollinger Bandwidth Indicator is hinting at an imminent bullish move for the price of XRP.
I find it difficult not to be optimistic $XRP just looking at this
––BBW is the second tightest ever.
–– %B is above 0.5, suggesting bullish price action
–– Price broke out of the upper Bollinger Band; closing above it is a breakout buy signal pic.twitter.com/H2qW6SuNJw
— Tony “El Toro” (@tonythebullBTC) November 15, 2023
Maintaining that “optimism around the price of XRP has not yet waned,” The Bull acknowledges that the altcoin has managed to maintain critical support levels, which is a good sign. It alludes that the optimism that the price of XRP will register a repeat continues to be reinforced by several ideas from analysts that support the bullish thesis.
Key Metrics Supporting Bullish XRP Price Outlook
Tony The Bull explains why XRP price remains bullish, citing three ratings that border the Bollinger Bands indicator.
Note that the Bollinger bands, which measure price volatility, have reached the second tightest level ever recorded for the price of XRP. Furthermore, the %B of the same indicator has moved above the 0.5 level, pointing to a possible breakout.
The third reason why XRP remains bullish, according to Tony The Bull, is that the price of XRP has broken through the upper Bollinger band. This is usually interpreted as a buy signal.
XRP Price Forecast as Ripple Price Moves North
XRP price is preparing to move north after filling a symmetrical triangle and breaking below its lower boundary. After a prolonged Relative Strength Index (RSI) downtrend, which pointed to a decline in momentum, it is now turning south. This shows a bullish determination that could bode well for Ripple price if it holds up.
The Awesome Oscillator (AO) also remains above positive territory, suggesting that the bulls maintain their presence.
Further buying pressure could see XRP price recover above the lower boundary of the triangle above $0.6599. In a highly bullish case, attracted by the fair value gap (FVG), Ripple price could fill the inefficiency that extends from the psychological level of $0.7000 to just below the psychological level of $0.8000.
In very ambitious cases, XRP price could stretch further to test the range high at $0.9380, collecting liquidity from the sell side above. Traders who want to open new long positions should wait for the price to reestablish itself above the lower trend line at $0.7000.
Those who want to take advantage of the possible rally to the psychological level of $0.9000 should wait for the price to move decisively above the FVG midline, so-called consequent invasion, at $0.7568.
At the same time, attention has been focused on bitcoin Minetrix, a cloud mining project that allows everyone to own btc. The project has surpassed the $4 million mark in sales, with prospects for further gains ahead of the approval of the spot ETF.
Promising alternative to XRP
bitcoin Minetrix presents the perfect alternative to XRP, the BTCMTX token, which is selling for $0.0117 at the current pre-sale stage. It is among the top three ICOs to buy and one of the top five tokens of 2023.
According to the latest data from the website, pre-sale sales now reach $4.1 million of the planned target of $4.914 million.
Great news! #BitcoinMinetrix proudly announces a colossal achievement: over $4,000,000 raised! pic.twitter.com/neW7VEgkjJ
—Bitcoinminetrix (@bitcoinminetrix) November 16, 2023
When you purchase BTCMTX tokens, you become an integral part of the bitcoin Minetrix community, an enlightened group that maintains a presence on the Telegram messaging platform. Here you will receive timely updates about the project so that you can stay informed.
Become part of the #BitcoinMinetrix #Telegram community!
1⃣ Learn from the professionals: Immerse yourself in the knowledge shared by experienced mining specialists.
2⃣ Stay informed: Receive real-time alerts on market changes and innovations.
3⃣ Network and Share: Connect with our community. pic.twitter.com/wkWfjyAys3
—Bitcoinminetrix (@bitcoinminetrix) November 17, 2023
Visit the bitcoin Minetrix website to pre-sell BTCMTX here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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