Unexpectedly breaking the slow trends that have accompanied its ascent relative to the larger cryptocurrency market, XRP has taken a bullish surge. On its charts, a string of green candles has just appeared, suggesting a possible change in momentum that would portend a positive breakthrough for the digital asset soon.
A series of green candles indicates a developing optimistic mood among investors by symbolising a string of consecutive days of good market activity. For XRP, which has been underperforming in comparison to other cryptocurrencies, this move is much-needed.
This bullish shift is mostly due to the 200-day EMA breakout. One important technical indicator that traders use to assess long-term market patterns is the 200 EMA. Pushing over this barrier for XRP may mean that the asset is turning around from its previous downward trend and paving the way for long-term positive momentum.
Excitement is increased by the possibility of a 100 EMA breakout in the near future. Technical validation that the momentum has changed would support the optimistic argument if XRP’s price can rise above this shorter-term moving average.
Furthermore, it’s possible that XRP will go back into the descending triangle channel it was previously trading in. This pattern, which is frequently seen as a continuation signal, may indicate that XRP is prepared to return to the previous trend after the divergence.
Market watchers have been closely observing XRP’s movement and have seen its underperformance. But given the present price behaviour, there’s a chance that XRP will overtake its competitors, especially if the market stays optimistic overall.
