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Ripple (XRP) Technical Analysis: Bullish Momentum Builds as Legal Clarity Drives Market Confidence
The recent surge in XRP’s price has sparked a mix of emotions among traders and investors. However, a closer look at the technical analysis reveals that this rally is more than just a flash in the pan. In fact, all signs point to a strong bullish momentum building in the cryptocurrency market.
Firstly, let’s take a look at the RSI (Relative Strength Index) readings. While some may be quick to dismiss XRP’s recent surge as a mere correction, a closer examination of the data reveals a much more nuanced picture. The 6-day RSI is currently sitting at 60.2, suggesting that there’s still plenty of room for upward movement without entering overbought territory.
Source: Blockchain.News
