Ripple enthusiasts are the XRP army of fans are celebrating after XRP was finally able to hit the important level of $0.30.
The coin has been struggling to achieve this for a long time, and now, it’s finally accomplished.
Recently, the crypto market looked extremely bullish, with Bitcoin surpassing the psychological level of $10k.
After that, the coin went through a correction, and they surged again, surpassing the important level.
At the moment of writing this article, Bitcoin is trading in the red, but XRP is trading in the green and it’s up by more than 6%.
Now, XRP is racing towards $0.31.
XRP’s weekly chart flashes a positive signal
NewsBTC mentions an important crypto trader HODL2100K who said that XRP’s weekly chart printed an extremely positive signal.
The online publication mentions his IchiEMA indicator printing a buy on last week’s price candle, which brought prices dramatically higher.
This is extremely important because previous buy signals were seen right before strong increases in the price of XRP.
$XRP Weekly
Last week confirmed that first blue bar I was talking about last week. Let's see what coming weeks bring.Still thinking consolidation here before we burst through. pic.twitter.com/Lj4ReF2h3L
— ⛓ live slow ⛓ (@l1vesl0w) February 10, 2020
“In May of 2019, for instance, the IchiEMA registered a buy before the cryptocurrency rallied by dozens of percent higher,” NewsBTC writes.
They continue and explain that back in September, right before Ripple’s Swell conference, the same signal was seen again, and this preceded another move that boosted XRP’s price a lot.
The online publication doesn’t stop there and continues to explain that this signal was seen two weeks before XRP began the massive surge at the end of 2017, during which the coin was able to gain more than 1,000% in under a month.
If you recall, back then, XRP rallied from $0.20 to a price above $3.00.
This is expected to be a great year for XRP in terms of pricing after a pretty boring 2019 in which the coin did not see any significant price moves.
Ripple was blamed for the 2019 poor performance of XRP, but the company denied it affected the asset’s price.
Now, Ripple revealed that their main aim to the mass adoption of XRP.