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XRP Price Poised to Flip the Bearish Momentum!

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Highlights

    XRP price appears to be ready for take-off, however, the strong support levels need to be maintained just below $0.5

    The price is currently consolidating near the resistance levels and hence a significant breakout can lead the price above $0.6 in coming hours.

XRP Price Attempting Hard to Stabilize

The XRP price is forecasting a state of self-assurance to smash the yearly highs at $0.8 very soon as it is ready for a major take-off. The major reason is the consolidation in between $0.49 and $0.41 levels hint at a significant bull run in the coming days.

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A popular analyst, CryptoBull2020 predicts XRP price to hit $10 levels very soon in upcoming days, probably in upcoming couple of weeks. 

Replying to a query on the probable time when XRP may hit these levels, the analyst suggested to be patient and wait for the price to hit those levels. With the continued bullish momentum, altcoin price may hit the upper resistance levels at $0.8 and also $1 very soon.

XRP Price Analysis

The XRP price had comfortably risen above the $0.45 resistance levels and appeared that it might close the daily candle above these level. However, a significant selling pressure dragged the price below $0.45 levels before the daily close in the previous working day. 

xrp price retrace

However, the price recovered some of its losses and initiated the trade close to $0.44 levels in the early trading hours. Since then XRP price is atteming very hard to smash the $0.45 levels, after the successful attempt, it seems to be poised to maintain these levels and hit the above resistance levels.

Currently, the most vital part of the XRP bull rally must be in continuing with the surge and attain $0.48 in the next couple of hours. Therefore the very next imminent thing would be hitting the yearly highs at $0.8 and finally attaining a $1 target area.

Technical Specifications

  • The current resistance levels are formed at $0.4636
  • The support levels are formed at $0.4229
  • The indicators for XRP Price are neutral

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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