Looking good for Ripple's pricing!
The price of ripple surges beyond $0.499, the daily resistance level, on Monday.
XRP development activity seems to be on the rise, according to on-chain statistics.
The bullish thesis would be rendered invalid if the daily candlestick closes below $0.450.
On Monday, the price of Ripple (XRP) surpassed the $0.499 daily barrier level.
According to on-chain statistics, XRP development activity is on the rise, which means bulls are getting ready to make a move.
With a 3.2% increase, Ripple's price finished Monday above $0.499, the level that had previously served as barrier.
around the moment, XRP is encountering opposition around $0.515, which is its 50-day Exponential Moving Average (EMA).
With a 7% increase from $0.499 to $0.532, its prior high on June 5, is possible if Ripple price finds support at $0.499 and above the 50-day exponential moving average at $0.515.
Both the RSI and the Awesome Oscillator are below their respective zero lines, indicating a lack of momentum. To confirm that bulls are on the mend, both momentum indicators must stay above their respective 50 and 0 moving averages. The recovery rally would get a boost from such a scenario.
With a bullish market sentiment and a generally optimistic crypto-market forecast, XRP has the potential to gain an extra 9% to $0.581, a price retracement level of 50% between $0.419 and $0.744 between March 11 and April 13.
With Santiment, you can monitor how often events related to project development are documented in the public GitHub repository.
Investors and stakeholders often see an increase in this statistic favorably since it indicates ongoing efforts to maintain, develop
On the other side, if this indicator starts to go down, people may start to worry about the project's longevity, ability to innovate, and community involvement going forward.
The index, following XRP's lead, increased from 10.29 on June 13 to 10.91 on June 17. The positive prognosis is also supported by the 6% jump in XRP's Development Activity.
