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XRP Price Rebounds like a Titan Despite Unfavorable Circumstances

Highlights

    XRP presumed to be dead by many, picked up the momentum and bounced back.

    The XRP price is expected to surge to its initial levels priorly and later rally towards $1

Did You Miss XRP ‘Buy at the Dip’ Moment?

XRP Price had hit the rock bottom levels in the past couple of days where the price had visited $0.20 levels. After the rounds of SEC suing Ripple outspread in the market, XRP price dropped drastically due to the immense selling pressure registering the longest red candle in the XRP chart. 

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Yet, the price regained the lost momentum and within a few hours, the price took a big leap to surpass $0.33 marks.

XRP price trading view

The XRP price is now attempting to revisit the earlier levels and trying hard to maintain above $0.33 levels. If it succeeds in sustaining above these levels, XRP price may rally to the next strong resistance levels at $0.37.

Also Read: Is Burning XRP Coins a Better Option Right Now?

Will XRP Touch $1 in 2020?

With the surge in the XRP price, many crypto enthusiasts believe, the price may rally further to touch $1 for the new year’s eve. However, in the current scenario, the possibility of touching $1 appears to little difficult but possible.

According to the XRP analysts Crypto Bull, a perfect cup & handle is developing in the XRP chart. 

Usually, these patterns point out towards a bullish signal extending an uptrend and used to spot the long opportunities incoming. 

Considering the pattern formed, the XRP price should touch greater highs within a short span of time, unless and until some other negative environment is not formed which may pull back the price again.

Also Read: XRP Price Plunge Heavily, Yet Analyst Predict $10-$20 in January 2021

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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