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XRP price experienced a slight pullback after smashing the milestone above $1
The price bounced from the newly formed support levels and appeared to have entered consolidation
XRP Price May Hit More Than $30 in 2021
Ripple-SEC lawsuit flipped in favour of Ripple recently by getting access to the SEC’s correspondence regarding Bitcoin and Ethereum. As a result, XRP price skyrocketed above $1, highest ever level since 2018.
However, the entire crypto space experienced a drastic pullback and dipped notably. XRP price also fell below $1 and lost the positions around $0.9 too. Fortunately, the price successfully formed new support levels around $0.85 and bounced back above $0.9 levels.
Interestingly, the XRP community and XRP analysts are extremely bullish on the price and expect a historical bull run approaching soon. An analyst MackAttack XRP predicted the price to hit in between $30 to $75 in 2021.
According to the chart posted by the analyst, XRP price is trending in a similar pattern since 2017. The price consolidates for more a year and goes parabolic before a kick off towards the new highs.
Ripple’s XRP Back in The Top 5
The XRP price declined nearly 25%, when the price was on the verge to surpass $0.12 levels and dropped close to $0.85 levels. The target levels around $1 appeared to be misty, however, the retracement since the early trading hours kept hopes alive.
The price failed to break the lower support levels at $0.85 multiple times since the price rose above these levels. Moreover, the price seems to have entered a consolidation phase and retrace above $0.93 at the press time.
At the time of writing, the XRP price is $0.97 with a drop of nearly 6.09% in the past 24 hours. The price at press time broke the upper resistance level of the ascending triangle and surged high.
- The resistance level is at $1.09
- The support level is at $0.89
- The indicators point out towards a buy signal