Here's Why XRP price Is Set To Extend Its Recovery By 12%

Published 6 hours ago

The XRP price rises for the sixth consecutive day, registering a 17% growth. This bull run with substantial volume rise encourages buyers to break the neckline resistance of a double-bottom pattern. Thus, a bullish breakout from the $0.51 resistance level should further bolster price recovery and push the XRP/USDT pair to higher levels.

Key points from XRP price analysis:

Completing the double bottom pattern encourages XRP price recovery
A potential bullish crossover between the 20-and-200-day EMAs bring additional buying orders
The intraday trading volume in the XRP is $2.47 Billion, indicating a 26% gain.

Source- Tradingview

The XRP price follows a rounding bottom pattern in the daily time frame chart. This bullish pattern sets the market trend as bullish or in the recovery phase. The coin price currently trades at $0.51 and shows a 61% growth within a month.

Despite the unfavorable market conditions, this phenomenal growth is influenced by the improvement in investors’ sentiment for XRP vs SEC legal case. However, the crypto market reacted negatively to the recent unemployment data as it increased