XRP Price Attempting to Get Back In Track, Is Now A Double-Digit Figure Target In Place?


Ever since the Ripple has fallen into a legal well against SEC, XRP price appears to have been more strong and more independent. Woefully, the asset went inversely parabolic to yet again hit the lower support levels. Moreover, the asset plunged below this support level that initially pointed out towards a bearish trend. Yet a quick reversal and consolidation assisted the price and prevented further plunge. 

The asset that remained much passive for a pretty long time, jumped out of consolidation and registered a huge spike in the trading volume. After a prolonged downtrend, XRP price initiated with a flip that could march the asset towards its next resistance very soon.

The asset was pretty much close to its immediate resistance levels around $1.2, yet the past week slump trembled the plot. The XRP price declined below $1 amid the plunge that the asset is trying hard to regain. However, it is mandatory for the price to not only range beyond $1 but also surpasses the resistance levels at $1.2. And hence a substantial uptrend may be confirmed.   

Yet this may not point out towards the resumption of a bull run as the barrier still reside close to $1.4 to $1.5 levels. And a successful breach through these levels should pave way for the asset to range above $2. Conversely, the RSI in long term manifested a downtrend which may flip any moment and begin with the uptrend soon.

Also Read : XRP Price Is Gearing Up For A 10X Price Surge In The Q1 Of 2022!

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Zomfi NFT-Based P2E Game Completes $2.6M Seed and Private Round Funding From High-Profile Investors

Zomfi NFT-Based P2E Game Completes $2.6M Seed and Private Round Funding From High-Profile Investors

Decentralized marketplace Particl introduces native 'BasicSwap' DEX

Decentralized marketplace Particl introduces native ‘BasicSwap’ DEX » CryptoNinjas