XRP price after the recent spike initiated with a descending pattern and hence a major breakout is the need of an hour
The price is expected to fly high in the coming days and retest the upper resistance levels
Ripple’s XRP price is all set to surge high as it is manifesting a similar bull run of that of 2017 and hence a splendid rally may be foreseen. Recently, XRP underwent a possible burn as the market capitalization and the circulating supply declined all of a sudden.
However, the price appears to have initiated a recovery mode as the price is on the verge to bounce back and accelerate the bull run. As presented by a crypto follower, the XRP price is showcasing a similar warm up pump as in 2017.
According to the chart, the price experienced a steep dump in between the bull rally and resumed the bull run. The price eventually smashed the ATH at $3.84 after completing the correction phase. And hence if the price follows the similar pattern, $6 is all set to be achieved very soon.
XRP Price Breakout Imminent!
XRP price, as mentioned before, is trending within a descending channel. After the price hit the yearly highs at $1.76, it soon dipped and entered the channel. However, the price broke the upper resistance levels of the channel and soon dipped too. Due to the fake break out, the price currently is on the verge to reenter the channel.
Yet, the price rose significantly and showcased a probable uptrend incoming very soon. At the time of writing, the XRP price is $1.54 with a jump of 1.66% and continuing with an uptrend. However, the prime focus at the current time is a bounceback to the $1.62 levels to continue the uptrend to retest the yearly highs.
- The resistance level of Ripple’s XRP price is currently at $1.62 and later at $1.96
- The support levels are at $1.42
- The indicators point out at a buy signal