The entire SEC vs Ripple case caused a lot of commotion in the crypto industry. This lawsuit even pushed the price of XRP into a new low. Nevertheless, the altcoin revealed that it was finally on the road to recovery.
During the peak of the recent crypto rally, XRP witnessed a steep fall in terms of both prices as well as market cap. However, the asset, during the time of writing was not only trying to bag gains that it lost during the last couple of months, it went on to secure a three-year high of $1.10. XRP was trading for $1.05, at press time with a whopping 45.36% surge in the last 24-hours. Over the last seven days, the asset recorded profits of over 89%. The altcoin even rose in terms of market cap and went on to rank fourth.
XRP One-Hour Price Chart On Binance
Even though XRP is quite far away from reaching its all-time high of $3, the asset’s journey from a low of $0.19 to $1.10 is impeccable. The altcoin, despite being delisted or banned from several crypto exchanges, still managed to garner profits. The short-term price chart of the altcoin was all good news.
The Awesome Oscillator indicator announced the presence of bulls with the formation of long green closing bars. The Chaikin Money Flow Index [CMF] indicator remained over zero in the bullish arena. The bulls managed to retain their place in the XRP market, even though the MACD indicator underwent a bearish crossover, earlier today. At the time of writing, the MACD line went over the signal line to form a bullish crossover.
Strong buyers’ sentiment was noted in the short-term price chart of XRP. The Relative Strength Index [RSI] indicator affirmed that the altcoin was being overbought as the RSI marker was at a high of 80 median. The Money Flow Index indicator was seen exhibiting a buyers’ notion.