- XRP price has tagged the $0.50 barrier,
- The bulls have rallied 50% this week,
- The RSI is now in extremely over bought territory
Ripple’s XRP price has rallied 30% in the last 24 hours, bringing the weekly gains to 50%. The bulls have pulled off an impressive impulsive wave breaching through a previous triangle consolidation in May. The uptrend move could be much more than just a countertrend rally. A corrective structure following the rally will give more clues as to what may happen next.
XRP price currently auctions at $0.48 as the profit-taking consolidation occurs on smaller time frames. The bulls have successfully marked a high at $0.50 while the RSI has breached extremely overbought terrain. If market conditions persist, a rally towards support zones at $0.56 and $0.61 could occur in the coming days.
XRP USDT 2-Hour Chsrt
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