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XRP Price is Bouncing Back, What Levels Will The Price Target?

Highlights

    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. 

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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.

xrp broke resistance

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.

Technical Specifications

  • The resistance level is at $1.09
  • The support level is at $0.89
  • The indicators point out towards a buy signal

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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