The ‘XRP army’ will be celebrating today as the #3 cryptocurrency decouples away from the largely red market this morning and secures a 14% gain against the US dollar.
The breakout occurred at 04:00 (UTC+1) during the Asian trading session, which lifted XRP from $0.33 to a peak of $0.37. XRP trading volume in the last 24hrs has swelled by $1 Billion with a majority of XRP trades being executed against Tether (USDT).
Right now the asset has corrected beneath the 0.5 fibonacci retracement level at $0.36, after failing to break over the 200 SMA resistance. Will the European and US trading sessions be able to provide a second surge of bullish momentum, and help drive XRP towards a new 3-month high? Let’s take a look.