XRP has been underperforming relative to other major altcoins over the past month. While coins like Solana (SOL) and Chainlink (LINK) have posted gains of 40% and 25% respectively in the last 30 days, XRP is down 7% over the same period.
This sluggish price action has left XRP investors feeling impatient.
XRP Price Analysis
XRP is currently trading around $0.61, struggling to gain bullish momentum. However, according to technical analysis platform altFINS, a bullish breakout from a bullish flag pattern signals upside potential to $0.92 – the peak from July’s rally.
A bullish flag pattern forms after a strong price advance, indicating a temporary pause and consolidation before the previous uptrend resumes. Traders initiate long positions on a breakout above the flag, targeting the height of the flagpole as a profit objective.
The short-term trend for XRP is neutral with mixed momentum. While the MACD indicator is bearish with the MACD line below the signal line, the RSI sits at a neutral level around 50. However, the rising MACD histogram bars suggest building bullish momentum that could spark the next upswing.
On the higher time frames, XRP remains in a clear uptrend according to analysis from altFINS. The recent breakout above the 200-day moving average and out of an ascending triangle consolidation pattern confirmed the resumption of the uptrend in early November.
Prices quickly rallied to hit highs of $0.73 before succumbing to overbought conditions (RSI above 85) and profit-taking. This pulled the price back down to form the current flag continuation pattern.
Should Impatient XRP Investors Turn to This Altcoin?
As XRP struggles to gain upside traction, a new altcoin is capturing significant attention – Bitcoin Minetrix (BTCMTX). This innovative project allows users to earn Bitcoin mining rewards simply by staking BTCMTX tokens.
BTCMTX introduces the concept of stake-to-mine, representing a groundbreaking model for earning cloud mining credits to redeem for Bitcoin mining hash power. This removes the need for expensiv
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Author: BeInCrypto Team
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