The top ten altcoins posted on X again see $XRP in the top position. As per AltsDaddy, a prominent platform for tracking altcoins, XRP has dominated the altcoin sector in terms of being posted on social media with a 19% price jump this week. The platform took to its official social media account on X to provide the details of this development.
XRP Maintains Its Dominance among the Top Tweeted Altcoins with a 19% Jump
In its recent post, AltsDaddy revealed the remarkable status of $XRP among the altcoins as it made a significant spike. The analytics show that the well-known altcoin went through a substantial pump of up to 48%. As a result of this, the token’s price jumped from $0.3812 to nearly $0.5659. This development reportedly denotes a massive rally that has triggered interest among those who have long been holding $XRP.
In addition to this, the move also points toward the increasing reputation of the crypto token within the crypto community. Apart from that, the past seven days witnessed an increase of 19% in its price. Nonetheless, irrespective of the bullish momentum of $XRP, the altcoin is currently experiencing a couple of crucial resistance levels. In this respect, these resistance levels could influence the short-term trajectory of the crypto token.
The Altcoin Experiences a Couple of Resistance Levels
0.618 Fibonacci retracement level is one of these resistance levels. It reportedly stands at almost $0.5350. This indicator plays the role of a critical technical level and traders mostly watch it closely. Moreover, it often works as a resilient support or resistance point, based on the market sentiment. In the case of $XRP, the present level of 0.618 Fibonacci retracement level denotes a huge hindrance.
Trending Now: Bitcoin Descending Triangle Hints at Potential Breakout
Breaking above the respective level could lead to additional bullish potential. Nevertheless, failure in this might pave the way for a price retracement. On the other hand, the 50-day exponential moving average is another resistance level for $XRP. Moving averages contribute a lot to the technical analysis, offering insights into the general direction of the market. This resistance level currently stands at approximately $0.5210.
Particularly, the 50 EMA gets significant attention. If XRP effectively closes above the respective level, there are strong chances for the continuation of the bullish trend. According to the statistics, if the altcoin efficiently breaks through the above-mentioned resistance levels, the upcoming important target takes into account the resistance trend at $0.62.