XRP hits 6.5-week high with a ‘guppy’ momentum indicator pointing to more gains in advance: Technical analysis
This is a sunny technical examination of coindesk analyst and chartered market technician Omkar Godbole.
The XRP price rose to a high $ 2.83 during the first time of US Wednesday, whipping levels were last seen on May 23, according to CoinDesk data data,
The move occurred as the Guppy Multiple transfer of the average indicator, exploded a bullish signal. The ribbon indicator consists of six short -term exponential transitions of averages (This is not) with periods from three to 15 days showing short -term trend. It also includes six long -term ema with periods between 30 days and 60 days, representing long -term trend.
A bullish signal occurs when the six short-term average cross above the long-term averages, as can be seen in the daily XRP chart below.
The Bullish Crossover of Guppy Average indicates that the path of at least resistance is on the higher part, with the potential for a rally at $ 2.649, the highly registered on May 14th.
