XRP Set for 'Further Upside' if It 'Decisively' Breaches This Level, Says Popular Analyst as Ripple-Linked Crypto Spikes 5% in a Week

Benzinga

07/21

Leading cryptocurrency analyst Ali Martinez anticipated on Monday a “decisive breakout” for XRP (CRYPTO: XRP) if the token successfully surpasses a key resistance level. Martinez posted an animated ...

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The video suggested that a breach of $1.13 could open the door for a potential rally toward $1.30.\n“A decisive breakout above it could confirm the bullish breakout and open the door for further upside,” Matinez added.\nNotably, Martinez flagged a “Buy” signal for XRP last week, around $1.109. Since then, the token is up 3.3%.\nThe Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, also flashed a \"Buy\" reading for XRP, according to TradingView.\nThe Bull Bear Power indicator, which measures the strength of buyers and sellers, remained “Neutral,” and so did the Relative Strength Index, which hovered just above 50.\nMeanwhile, open interest in XRP futures has risen by over 6% in a week, according to Coinglass, indicating high speculative interest. This, complemented by a 5.58% increase in spot price over the same period, validated the bullish trend.\nSmart money sentiment, which refers to the collective outlook  and capital allocation of institutional investors, turned “bullish.”\nPrice Action: At the time of writing, XRP was exchanging hands at $1.13, up 3.72% in the last 24 hours, according to data from Benzinga Pro.\nPhoto Courtesy: Mehaniq on Shutterstock.com\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}