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XRP sees notable capital inflow but can the bulls break $0.55?

Press Releases Crypto News AMB-Crypto XRP sees notable capital inflow but can the bulls break $0.55?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

XRP bulls have reason to hope for a rally
The intense resistance zone overhead could stall bullish efforts

Over the past two weeks, XRP saw a bounce in prices from the $0.46 level. It climbed above $0.513 on 20 September. Traders could watch XRP more closely as this move showed bullish intent from market participants.

Is your portfolio green? Check the XRP Profit Calculator

In other news Ripple’s [XRP] CTO David Schwartz faced some questions about the claims that XRP was becoming a centralized entity. In his response, Schwartz said that these claims “all just seem like random assertions” and had no evidence to back them up.

The bearish order block at $0.54 looms large for XRP

Source: XRP/USDT on TradingView

The move above $0.513 flipped the market structure from bearish to bullish on the daily chart. XRP also formed a higher low at $0.4864, marked by the dotted orange line. A fall below this level would shift the structure to a bearish one.

Despite the bullish structure at the time of writing, XRP’s Relative Strength Index (RSI) obstinately remained below the neutral 50 level. It signaled that upward momentum hadn’t gained control yet. On the other hand, the Chaikin Money Flow (CMF) was well above +0.05, indicating heavy capital inflow to the market.

The $0.513-$0.55 region represented a bearish order block from late August on the 1-day chart. As such, it is expected to oppose the bulls firmly des

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Author: Akashnath S

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