Similar to Bitcoin and Ether, Ripple (XRP), is trading cautiously at the time of writing on Tuesday, with improving momentum indicators and supportive on-chain metrics keeping hopes alive for an upside breakout. At the moment, XRP is testing the upper boundary of its descending parallel channel, where a break above suggests a fresh rally. However, the bears remain in control amid the macroeconomic conditions in the broader cryptocurrency market. On-chain data shows a mild bullish bias XRP is down by less than 1% in the last 24 hours and is now trading at $1.44 per coin. The bearish performance comes despite bullish on-chain data. According to CryptoQuant’s summary data, XRP has a neutral to slightly bullish outlook.
Source: Read the original article
