Twitter analyst indicates XRP could spark a new rally if it can hit a specific key level

Table of Contents

• But does that mean hope is lost?

Quick take

1 minute read

• XRP has had a rough few years. 

• Even though it is the fourth biggest digital asset by market capitalisation, not much has happened for the currency in a long time.

One of the biggest cryptocurrency assets in the industry, XRP has had a rough few years. Even though it is the fourth biggest digital asset by market capitalisation, not much has happened for the currency in a long time. Despite the leading cryptocurrency and other assets shooting for the sky, progress for XRP has been slow, to say the least.

But does that mean hope is lost?

Well, not necessarily...

One trader on Twitter known as Pentoshi has recently indicated that a new round of bullish activity could occur for the token if it is able to capture enough momentum to reach a key resistance level. Earlier this week, the trader said that the token needs to hit a specific level in order to potentially trigger a new strong rally.

You can see his tweet below:

$XRP
It's bull run starts above .30-.33c

17' resistance. 18' support. Rounding off on the weekly.

Just not quite there yet though. Maybe in a week or two it can close above BTC allowing. But for now it's lagging pic.twitter.com/WUxro8DIw3

— 🔥Pentoshi (@Pentosh1) October 26, 2020

As many of us know, many alternative cryptocurrency assets in the industry typically follow suit to that of bitcoins action. The proof is in the pudding for many of the biggest assets in the space but the ripple token doesn’t seem to want to go with the crowd.

This isn’t necessarily a bad thing but it is interesting to see how the asset has basically ignored any kind of reaction to the price movements of that of the King coin.

At the time of writing, the San Francisco-based token is priced at $0.23 following a 2.51% decrease over the past 24 hours

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