- 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