XRP, the cryptocurrency formerly known as Ripple, experienced a rebound on Saturday with a 5% gain, following a decline of a similar amount on the previous day. This upward movement comes in spite of the global crypto market cap decreasing by 0.51% at the time of writing.
XRP/USD recovered from a low of $0.418, rising to an intraday high of $0.4501 in today’s session. Bullish momentum picked up at the price floor of $0.4250 after bears failed to sustain an earlier breakout. The relative strength index (RSI) moved away from its own support level of 30, signaling that the token was oversold and due for a reversal.
As always, investors are advised to exercise caution when investing in cryptocurrencies, given the high level of risk involved. Nevertheless, for those willing to take the risk, there are still plenty of opportunities for profit in this exciting and rapidly evolving market.
