Ripple at the Foothill of Massive Explosion-Will XRP Price Make It Above $0.4?
The XRP price has displayed significant strength in the recent past as it continues to hover above the lower support levels. The price rally is approaching the end of the decisive pattern that may end up in a bullish breakout very soon. The major factor is, however, the Ripple vs SEC lawsuit that appears to be settling out in the next few days.
The XRP price is slowly rising to reach the upper resistance of the symmetrical triangle. The RSI has rebounded nicely after undergoing a descending trend since the beginning of the year. The price has been bullish despite the bearish RSI movements and may rebound nicely after witnessing a bullish divergence. Therefore, the XRP price may certainly rise beyond $0.4 in the coming days as the buying volume mounts up.
The price volatility has diminished heavily, so the trend is expected to remain within the symmetrical triangle for some time ahead. The price may rise high to reach the resistance and quickly face a rejection that may drag the price toward the lower support around $0.355. In case, the price fails to hold these support levels, then a fine drop toward the last levels above $0.3 may be breached, hence igniting a bearish trend.
Nevertheless, the XRP price continues to display enough bullish momentum and hence may flutter within a narrow range before undergoing a bullish breakout.