{"id":59870,"date":"2020-01-31T08:15:54","date_gmt":"2020-01-31T06:15:54","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=59870"},"modified":"2020-01-31T08:15:54","modified_gmt":"2020-01-31T06:15:54","slug":"xrp-price-rally-14-percent-this-level-reclaimed","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrp-price-rally-14-percent-this-level-reclaimed\/","title":{"rendered":"XRP’s Price Could Soon Rally By 14% If This Level is Reclaimed"},"content":{"rendered":"

After a brutal performance in 2019 of -50%, XRP, the third-largest cryptocurrency by market capitalization, has finally begun to show signs of life over the past few weeks, having been partially revived by a colossal nearly 50% surge in the price of Bitcoin.\u00a0<\/a><\/p>\n

As shown in the chart below, since the altcoin hit $0.175 in the middle of December, it has exploded higher, rallying as high as $0.255 just last week as bulls have finally stepped in.<\/p>\n

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This is undoubtedly bullish, though the upward momentum has stalled around $0.245. Regardless, analysts claim that if a certain price level can be reclaimed, XRP<\/a> could continue even higher.<\/p>\n

XRP Poised to Burst Higher<\/strong><\/h2>\n

While XRP’s latest leg higher has had many analysts bullish, it remains below the key $0.25 level \u2014 the 0.5 Fibonacci Retracement level of the range the asset has been trading in for the past five months.<\/p>\n

According to TraderSmokey<\/a>, a prominent cryptocurrency trader, if XRP manages to retake the aforementioned price point, it would set the stage for a 14% “run up to that level,” referencing the “important weekly level at $0.28,”\u00a0 which has acted as an inflection point for the asset over recent weeks.<\/p>\n

Smokey added in the following tweet that the Ichimoku Cloud, a key technical indicator that identifies price points and trends, is “already partly bullish,” suggesting the price of XRP has the momentum to move even higher from here.<\/p>\n

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I'm not using the .25 levels in my trading (I'll take a look though, seems sick) but this is my view.<\/p>\n

Important weekly level at 0.28$.<\/p>\n

Entry on a reclaim of the .25 would give a nice 14% run up to that level.<\/p>\n

After a range breakout it's a decent way to the next key level. pic.twitter.com\/Q4YsOn0R80<\/a><\/p>\n

— Smokey Hosada (@BeegSmokey) January 30, 2020<\/a><\/p><\/blockquote>\n