XRP SOARS! Massive Bullish Guppy Cross Sends Price to $2.83, Levels Not Seen Since May!
Is the Rally Heading Towards New Highs?
The price of #XRP has captured the attention of the entire crypto community as it skyrocketed to a high of $2.83 during the early hours of Wednesday in the U.S., reaching levels not seen since May 23.
This impressive bullish movement comes after the influential multiple moving average indicator Guppy issued a strong bullish signal, suggesting a significant shift in market dynamics for Ripple's token.
The Guppy indicator, known for its ability to identify trends and momentum shifts, consists of two sets of Exponential Moving Averages (EMA).
Six short-term EMAs: With periods ranging from three to fifteen days, representing the short-term trend.
Six long-term EMAs: With periods between 30 and 60 days, representing the long-term trend.
A bullish signal is generated when the six short-term moving averages decisively cross above the long-term moving averages. This "bullish cross" on XRP's daily chart indicates that the path of least resistance is now pointing upwards, opening the potential for an additional rally towards $2.649, the high recorded on May 14.