The number sixth ranked cryptocurrency by market cap, XRP, is showing signs of a strengthening bullish trend according to a technical indicator designed to measure the underlying power behind price movements. Historically, when a particular signal appears on the monthly timeframe, a breakout occurs and sends the coin soaring higher. XRP Trend Strength Rises Above Key Level As Bulls Get Bold XRP is still stuck at the center of a legal battle with the SEC, but technicals are potentially pointing toward a positive outcome in the case. That is according the Average Directional Index, which shows a strengthening bullish trend on weekly timeframe. The ADX was created by J. Welles Wilder, Jr. who also developed the Relative Strength Index, Parabolic SAR, and Average True Range. It was designed to gauge trend strength. Related Reading: Bitcoin “Throwback” Could Trigger Flawless Technical Bottom Formation A reading above 20 indicates a growing trend, while a reading below the level suggests a lack of a clear trend. When readings reach 50 or higher, a trend is strong but possibly becoming overextended. XRP week ..
Support the originator by clicking the read the rest link below.
