The expert, lead analyst at research firm Blockfyre and known as Pentoshi on Twitter, also noted that XRP has entered a bull run.
Among the cryptocurrencies with the highest market value, one of the best performing crypto currencies of the last period was XRP. XRP, which has increased by 58 percent in the last 30 days, switched to only Chainlink (+ 116%) and Ethereum (+ 82%) in this period. In Spn 24 hours, XRP became the most profitable asset among the top 10 cryptocurrencies with a 4.8 percent return. At the time of the publication of the news, it is traded at $ 0.3150.
Some analysts state that this march may continue in the coming days and weeks. The third largest cryptocurrency, forming a hard support at $ 0.2750, managed to break the 100-week Simple Moving Average for the first time since November 2018. It should also be noted that the volume of XRP created in the 2017 bull run is much more now. As it will be remembered, XRP price increased to $ 3.32 at that time.
On the daily chart, XRP entered a period of consolidation after the July rally and then continued its upward trend on August 13. In the last few days, the $ 0.2850 and $ 0.2920 resistances have also broken up.
The expert, lead analyst at research firm Blockfyre and known as Pentoshi on Twitter, also stated that XRP has entered a bull run. Pentoshi reported that the 3rd largest cryptocurrency reached a “high of highs” for the first time in 959 days.
“Breaking 0.30 is the indicator of bull running”
Pentoshi also highlighted the $ 0.30 level on the resistance post before XRP price jumped up in 2017:
“XRP made its highest weekly close in 959 days since the market began. Acting as resistance in 2017, support in 2018, it has now retraced the $ 0.30 level. This should be the official start of his bull run ”
“The biggest bull run is approaching”
Crypto Bitlord, which has threatened to hard fork to issue a new coin in response to Ripple’s highly criticized XRP policy, also thinks ‘bullish’ like Pentoshi. The analyst announced that the biggest bull run for XRP is approaching since the explosion above $ 0.04. Crypto Bitlord also stated that it is not considering selling because of its belief in XRP.