Key Indicator Shows Ripple (XRP) Price Could be on the Verge of a Rally
By Michaël van de Poppe's original article for cointelegraph.com reduced by 75%
The majority of the Ripple holders were waiting for the yearly Swell conference to bring some excitement to XRP price. The price didn't move at all and Ripple is searching for annual lows on its USD pair. The question is, was it reasonable for investors to expect a vast rally before the Swell conference or should they have not expected any upward movement at all? Let's look at the charts to see what XRP price might do in the future.
Quite remarkably, the 2-day chart provides clear data regarding the impact of the past three Swell conferences on XRP price. The XRP/BTC 2-day chart shows XRP price hovering on a vital support area. Currently, the daily chart is providing data that XRP price is in a crucial support area.
The last time a bullish divergence occurred on the 4-day chart, the price surged 5,500% and 180%. A bullish divergence is not a guarantee of any price movements, but they are seen as one of the significant indicators for a potential trend reversal.
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