The XRP army of fans is celebrating the fact that their favorite coin was finally able to surpass $0.30. This was after more days in which the coin struggled to hit this level but was stopped by resistance.
XRP rally is just getting started
A crypto analyst said that XRP’s rally is just getting started in 2020 after last year when Ripple was blamed for the poor performance of the coin.
As you know by now, 2019 was not such a great year for the price of this digital asset, but 2020 is expected to be greater.
Crypto Michaël, a full-time trader and analyst, says XRP “has finally snapped its two-year losing streak against Bitcoin (BTC),” as reported by the online publication the Daily Hodl.
The analyst believes that XRP can surge to as high as $0.60 by June, but BTC will have to cool down first.
“XRP: I think this one will do well, when BTC calms down. Broke a 2-year old downtrend on the BTC pair and flipped back in the range on the USD pair. Holding above $0.247-0.25 and we could see continuation towards the range high at $0.47 and possibly $0.60.”
A few days ago, someone commented: “But $XRP #RIPPLE is having a hard time to even hold $0.28, every time that it try to move higher it again drops, this is for sure a very bearish signal. It wasn’t able to break $0.31 already for days. even breaking $0.29 is hard.”
But, as the coin proved, it was able to surpass the important level of $0.30.
At the moment of writing this article, XRP is trading in the green, and the coin is priced at $0.307940.
I think this one will do well, when $BTC calms down.
Broke a 2-year old downtrend on the $BTC pair and flipped back in the range on the $USD pair.
Holding above $0.247-0.25 and we could see continuation towards the range high at $0.47 and possibly $0.60. pic.twitter.com/Hr5Hk0DFxh
— Michaël van de Poppe (@CryptoMichNL) February 9, 2020
The indicator that preceded the 1000% rally flashed again
Earlier today, we reported that an important crypto trader HODL2100K who said that XRP’s weekly chart printed an extremely positive signal.
An important indicator that preceded more rallies of the coin flashed again. Previous buy signals appeared just before other surges of the coin’s price.
