XRP is attempting to turn the $0.27 price area into a level of support
The digital asset’s bullishness is as a result of the Flare Networks snapshot on the 12th of December at 0:00 UTC
Those who wish to be part of the event, are advised to move their XRP to an exchange or platform, confirmed to be participating in the snapshot
A quick glance at Coinmarketcap reveals that XRP is one of the few digital assets showing impressive 24-hour gains. At the time of writing, XRP is trading around the $0.27 price area and with a gain of 5.49% in the last 24 hours. XRP’s impressive performance can be seen in the screenshot below.
What the Daily XRP/USDT Chart Says
The daily XRP/USDT chart further confirms XRP’s bullishness. From the chart (below) it can be observed that the price of XRP is confidently above the three daily moving averages: 50-day, 100-day and 200-day.
Additionally, XRP’s trade volume is in the green. The daily MACD has also crossed in a bullish manner with its histograms confirming increased buying interest. However, the daily MFI and RSI are a bit high with values of 67 and 73 respectively thus pointing to some level of consolidation for XRP in the days to follow.
In terms of resistances moving forward, XRP has the following short term price levels to contend with on its path towards $0.30.
XRP Could Continue on its Bullish Climb Due to the Flare Networks Snapshot
In terms of fundamentals, XRP investors have the Flare Networks snapshot event to look forward to. According to the team at Flare Networks, the snapshot will occur on the 12th of December at exactly 00:00 UTC.
The Snapshot will take place at 00:00 GMT on 12/12/20