This trader believes that XRP might be on track to break long-term downtrend
Verified Twitter user Cameron Foss, who runs educational courses for crypto traders, posted a tweet stating that XRP Coin now has the fastest set-up among all cryptocurrencies on the market.
XRP shows “revival break out in play”
According to the chart he shared, at the moment, the seventh largest crypto, Ripple-affiliated XRP, has a revival breakout in play that can potentially break down the coin’s downtrend that has been going on for several years now after the coin reached an all-time high of $3.84 in early January 2018.
At the time of this publication, XRP was trading down 89.42% from that all-time high. Now, traders say, XRP appears to be able to pull out of this decline despite the current bear market.
XRP expected to close above $0.41
Pseudonymous founder of AltCryptoTalk, @AltCryptoGems, has also shared that he sees XRP’s course as bullish. He has mentioned that the coin has been holding above the support marked on the chart and broke above the symmetrical triangle, which he talked about during the previous XRP update.
After a golden cross appears on the XRP chart, they expect XRP to close daily trading above the $0.41 resistance line, thereafter, the coin can be expected to move towards $0.471.
XRP on the rise, gaining 22%
Over the past few days, XRP has been making powerful attempts to regain some of its losses, making two rises of more than 22% and 23% each. Since the most recent growth on Sept. 20, it has dropped roughly 5%.
Crypto influencer David Gokhshtein, the founder of Gokhshtein Media, has been bullish on XRP in his recent tweets. In particular, he noted that the community feels that the SEC’s long-running legal litigation against Ripple is coming to an end, and the recent rise in the XRP price is good proof of that.
