XRP: Cryptocurrency is at the top of the market with a price increase of 100 percent
XRP: Cryptocurrency is at the top of the market with a price increase of 100 percent
XRP: Cryptocurrency continues upwards-RSI outbreak indicates further climb
The cryptocurrency XRP has shown impressive performance last week and exceeded the entire crypto market. With an increase of almost 100 percent, XRP delighted investors and caused a sensation. But what is behind this sudden upswing? A look at the quarterly relative strength index (RSI) provides information.
The RSI finally broke its resistance line after six years, which can be regarded as a significant structure of structure. This suggests a possible further upward trend and arouses the question of whether XRP can achieve new highs in 2020.
The mood of the crypto investors has been rather pessimistic lately. But the legal dispute between Ripple and the SEC decided in favor of XRP. A US judge has decided that the sale of XRP to small investors is not considered to be a distribution of non-registered securities and thus rejects the complaint of the SEC.
This message also has an impact on other crypto projects that have been targeted by the Sec, such as Solana and Polygon. They also experienced a price increase of over 20 to 30 percent after the uncertainty of investors was scattered.
The RSI outbreak at XRP is a clear sign of the current upswing. The relative strength index is a momentum indicator that is particularly meaningful for higher time units. It is possible that XRP will reach further highs before correction occurs.
However, it is advisable to be careful with an investment in XRP. Although the cryptocurrency is currently heavily performing, opinions are shared via XRP. Many investors have been waiting for the judicial decision for months, which has now occurred. It is therefore important to keep an eye on developments and weigh up risks.In order to learn more about the RSI indicator and other trading bases, our website offers extensive articles on the subject of trading. Feel free to visit our trading hub to build sound knowledge.
The development of XRP is undoubtedly exciting. The RSI outbreak gives hope for a further increase, but investors should always be careful and take into account possible risks. With the victory in the SEC lawsuit, however, XRP has sent a strong signal and could continue to cause a stir.
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