XRP (Ripple) has seen a significant increase in value over the highlighted 30-day period, with a 440% increase. Here are some chart analysis points:
1. Uptrend:
The chart displays a strong uptrend, especially from the second half of the period shown. Prices rose rapidly after an initial period of consolidation.
2. Support and Resistance:
The previous support level near 0.5047 served as a base before the upward movement began.
Previous resistances were broken at levels such as 1.2092, which contributed to the acceleration of the movement.
3. Volume:
Although not directly visible, the sharp movement indicates a possible increase in volume, common in large valuations.
4. Attention to Correction:
Very rapid appreciation may be followed by corrections. Keep an eye on nearby supports, such as 2.0356, in case of a pullback.
5. Complementary Indicators:
Analyzing RSI (Relative Strength Index) or Moving Averages would help confirm overbought or continuation of the rally.