Ripple Analyst Says XRP Closing Above This Level Is Bullish: Can It Hit $1 In May?
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Ripple (XRP) has been the subject of intense scrutiny by investors and traders alike as it navigates a critical juncture in its price action.
According to a recent tweet by prominent Ripple analyst EGRAG Crypto, XRP closing above the $0.57 level on a weekly basis would be a bullish sign, while closing below $0.50 could potentially break the current market structure.
The Battle Between XRP Bulls and Bears
Since the significant price dump on April 8th, XRP has been facing strong resistance at the 21-day Exponential Moving Average (EMA).
The market has witnessed an equal number of bullish and bearish candles since then, indicating a fierce battle between buyers and sellers for control over the cryptocurrency’s price direction.
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