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XRP on the verge of a ‘V-Shaped’ recovery to regain the lost position above $0.35
The price is expected to surge above $0.4 levels after experiencing a plunge close to $0.3 from $0.32 levels initially
Will XRP Price Touch $1 in the coming days?
Ripple’s XRP price has experienced a heavy plunge in the last couple of hours which dragged the price more than 31%. The price is, however, recovered more than 15 percent to touch the current levels around $0.28.
Interestingly, the XRP price managed to touch above $0.37, witnessed a dip and trended in a narrow margin before a huge decline in the price. Currently, the price is on the verge to form a ‘V-Shaped’ recovery as mentioned by one of the analysts, Crypto Bull.
As per the analysts, with the V-shape recovery, the XRP price is expected to surge to new highs very soon. According to some other analysts, XRP price is expected to touch $0.5 in the coming couple of days. However, the price may even rally further to touch $1 with a positive trend in the crypto space.
XRP Price Analysis
The XRP price has been rejected multiple times at $0.35, $0.36, $0.37 and the most recent close to $0.30. Woefully, the XRP price is currently dipping and might even fail to sustain the levels at $0.28 to visit the support levels at $0.24.
The constant pump and dump in the XRP price led to the formation of a double-top pattern in the chart. Usually, a double-top pattern is an indication of a possible breakout in the very near future that may carry the price above $0.35 initially.
XRP price in just a couple of days rallied yet again above $0.35 levels to touch $0.36914 within hours of a plunge. However, the price further witnessed a slash which dragged the price nearly 31.82 percent . Further, the price also surged to some extent and gained nearly 20 percent but woefully dumped again.
At the press time, the XRP price is $0.28631 with a decline of 11.5 percent in the last 24-hours. According to an analyst, Avidkhan5426, the price may further rally above the $0.4 levels in the coming couple of days.