- A symmetrical triangle pattern in the daily chart drives the short-term sideways trend in XRP price.
- According to Santiment data, the high-networth investors accumulated over 360 since last week.
- The recently reclaimed exponential moving average (20 and 50) could bolster the buying pressure in XRP.
XRP, the native cryptocurrency of the XRP ledge shows a slight uptick of 1.29% during Tuesday’s U.S. market hours. The buying pressure can be linked to recent whale accumulation and strong support levels bolstering coin price. Despite the intraday gain, the daily candle shows notable rejection from $1.45 level as the middle east continued to hurt market sentiment. Can the XRP price overcome broader market selling for key breakout from triangle pattern in daily chart.
XRP Pullback Signals Uncertainty While Whales Bet on Reversal
Earlier today, the XRP price attempted to extend its recovery above $1.45 level. However, the price failed to sustain this level and reverted immediately with a long-wick to currently trade at $1.43.
The selling pressure followed esc...
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