XRP’s week has been an anomaly, but here’s why it may or may not remain so

XRP’s week has been an anomaly, but here’s why it may or may not remain so

March 10, 2023

By Michael Nderitu

How much are 1,10,100 XRPs worth today?

XRP bulls dominate after losing correlation with the rest of the market

Bears may soon regain control as volatility and network growth have slowed down

XRP has turned out to be one of the best hedges against this week’s bearish market trend. Ergo, the question – How much longer can XRP sustain its current trajectory on the charts?

XRP’s press time price of $0.39 represented a 10% upside after four consecutive days of being in the green. For context, Bitcoin recorded a 4% pullback while ETH was down by roughly 3.25% during the same 4-day period.

These observations confirm that XRP managed to overcome the general correlation and trend across the rest of the market.

Will XRP maintain this momentum? Well, the altcoin’s RSI indicator, at press time, was back above the mid-point, thus confirming that Relative Strength is now in favor of the bulls.

Nevertheless, the crypto’s latest rally has now pushed above the 50-day MA and is about cross above the 200-day MA. These indicators often act as pivot zones. Hence, there is a chance that XRP might pull back towards the weekend.

XRP’s bullish momentum might be short-lived

There are already some signs that indicate a slowdown in momentum might be imminent.