🔥🔥🔥 $XRP in April: Stuck in Consolidation or Poised for #bullish Surge?
XRP is currently in a consolidation phase, showing minimal volatility as investors await bullish momentum. Despite this, there's potential for XRP to surpass a resistance level at $0.648, signaling a path towards its March 2024 high.
On-chain metrics present conflicting signals: while the MACD suggests bullish momentum, the NVT ratio indicates bearish sentiments. XRP's daily chart reflects a pattern of movement within a narrow range, with marginal fluctuations over the past two weeks.
At present, XRP stands at $0.627, with a market capitalization exceeding $34.4 billion. Breaking the resistance at $0.648 could trigger a resurgence akin to its peak in March 2024.
However, cautionary signals emerge from XRP's on-chain metrics, such as declining Exchange Outflow and a surge in the NVT ratio, indicating potential overvaluation. Nonetheless, bullish momentum is suggested by the MACD and a modest increase in the Relative Strength Index (RSI), hinting at a possible uptrend in April.
Source - cryptonewsland.com
