XRP Hits Highest Level in Six Weeks as Guppy Indicator Turns Bullish
XRP rose to a six-week high of $2.83 during early U.S. trading hours on Wednesday, data from CoinDesk shows.
The rally follows a bullish signal from the Guppy multiple moving average indicator, which uses twelve exponential moving averages (EMAs) to analyze market trends. The indicator features two groups of EMAs: six short-term averages spanning 3 to 15 days, and six longer-term averages covering 30 to 60 days.
A bullish crossover happens when the short-term EMAs move above the long-term EMAs, indicating growing upward momentum. This signal has now appeared on XRP’s daily chart, suggesting the trend may continue higher.
If the momentum holds, technical analysis points to the possibility of XRP revisiting $2.649, the high it last reached on May 14.
