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Dormant Ripple bulls have their say, XRP/USD jumps 15% in a matter of an hour

  • XRP/USD jumps above $0.37, hits the highest level in over a month.
  • The coin is vulnerable to a short-term correction.

Thee third largest digital asset with the current market value of $15 billion smashed several important technical barriers and hit $0.3750 during Asian hours on Tuesday. The coin has gained over 15% since the beginning of the day to become the best performing altcoin out of top-20.

XRP/USD hit the highest level since April 5 and moved above DMA200 for the first time since November 20, 2018. From the longer-term perspective, the coin has a potential to hit $0.3800 and reach SMA50 weekly at $0.3850. The coin has been trading below this line since mid-June 2018.

However, being strongly overbought on an intraday level, it is vulnerable to the short-term bearish correction towards $0.35 and, possibly, $0.3380 (the highest level of the previous week).

XRP/USD, 4-hour chart 

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