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- XRP’s price has increased 0.34% in the last 24 hours, erasing its negative weekly performance.
- A Gaussian Channel has been identified on XRP’s weekly chart.
- A close within this channel is considered to be bullish for the remittance token.
The price of Ripple (XRP) has risen 0.34% over the last 24 hours according to CoinMarketCap. This 24-hour positive price performance has erased XRP’s negative weekly performance. At press time, XRP is changing hands at $0.4109.
The Twitter trader, EGRAG CRYPTO (@egragcrypto), shared a snapshot of XRP’s weekly chart and a Gaussian Channel currently present on XRP’s chart.
Weekly Gaussian channel for XRP (Source: Twitter)
In a tweet this morning, the Twitter user stated that XRP’s weekly candle close will be important to watch as it may be the first weekly candle with a full body close inside the Gaussian Channel since May 2022. According to the Twitter user, a close within this channel will be bullish for the remittance token.
Daily chart for XRP/USDT (Source: TradingView)
Technical indicators on XRP’s daily chart are slightly bearish. Currently, the daily RSI line is positioned below the RSI SMA line. T…
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