XRP gains 10% in a week as short-term technicals point at potential price bottom

XRP has recorded short-term gains in recent days alongside the general cryptocurrency market, at a point investors are looking for signs of a bottom. The asset is also attempting to put behind the three weeks of sustained weak price action. In particular, XRP, Ripple’s native token, was trading at $0.35 by press time, recording gains of almost 10% in the last seven days.

At the same time, the uptick in XRP’s value has emerged from sustained buying pressure over the seven days. Notably, as of September 11, the token had a market cap of $17.73 billion, a growth of 8.5% from the $16.34 billion recorded on September 4. Overall, XRP is showing signs of strength, with the asset’s gauges on TradingView pointing to a possible bottom based on both moving averages and summary. In this case, the summary shows neutrality, while the moving average indicates a ‘buy‘ for the token.