fxstreet.com 08 Feb, 2021 07:00 am

XRP fights crucial resistance for a massive bullish impulse

XRP fights crucial resistance for a massive bullish impulse
Ripple seems to be getting ready for the much-awaited breakout toward $0.75 (2021 high). Support at $0.35 played a vital role in stopping the massive

A declining network growth may hinder XRP’s recovery to $0.Ripple holder distribution Looking at the other side of the fence Ripple’s network growth has remained downward since the massive price drop.The network growth by Santiment tracks the number of new addresses joining the network daily.Ripple network growth Declining network growth is a bearish signal as it affects the regular inflow and outflow of tokens on the protocol.

The cross-border is on the verge of a breakout if bulls push past the 50 SMA on the 4-hour chart.Meanwhile, XRP is looking forward to a substantial breakout as long as the Simple Moving Average (SMA) on the 4-hour chart is broken.

Read full story at fxstreet.com