XRP Touches Six-Week High as Guppy Indicator Signals Potential for More Gains
XRP climbed to its highest level since May 23, hitting $2.83 in early U.S. trading on Wednesday, according to CoinDesk data.
The surge aligns with a bullish signal from the Guppy multiple moving average indicator, a technical tool that analyzes price trends using two groups of exponential moving averages (EMAs). The indicator combines six short-term EMAs (spanning 3 to 15 days) that capture immediate price action, with six long-term EMAs (covering 30 to 60 days) that reflect the broader market trend.
When the short-term EMAs cross above the long-term EMAs, it suggests growing bullish momentum. This crossover has now appeared on XRP’s daily chart, hinting that the path of least resistance is upward.
Technically, this setup could pave the way for a move toward $2.649, which was XRP’s local high back on May 14.
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