Ripple’s price has been rising quickly recently, moving closer to a new all-time high. However, there are some warning signs that suggest a correction might happen soon. On the USDT paired chart, the price has been increasing aggressively after breaking above the 200-day moving average, around $0.55.
It has also broken through the $1 and $1.4 levels, approaching the $2 resistance zone and possibly a new all-time high. However, the RSI shows a very overbought signal, which could lead to a correction or deep pullback soon. In this case, the $1 area could be a strong support level to prevent a complete trend reversal.
On the BTC paired chart, the XRP/BTC daily chart displays a similar situation. The market has been steadily rising after breaking above the 200-day moving average, around the 900 SAT mark, and the long-term bearish trendline. The price has also broken above the 1500 SAT level and is currently moving higher towards the 2,200 SAT resistance zone.
The RSI is again showing an overbought state for the market, which indicates a correction is likely in the coming weeks.
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<p>The post Ripple’s Price Surge: Rapid Rally or Impending Correction? first appeared on CoinBuzzFeed.</p>
