XRP Price Breaking Down-Here’s When it May Trigger a Rebound and Surge Beyond $0.38
The crypto markets are in decline, with the Bitcoin price recently falling below $22,000. With the drop of the star crypto, the majority of the altcoins including XRP also slashed heavily. Despite a minor plunge, the price continues to remain under the huge influence of bulls and is believed to spark a fine upswing very soon. However, before a hefty upswing, the prices were believed to undergo a subsequent pullback.
Therefore, the XRP price dropped back to the lower support at $0.3725, trying to halt the ongoing bearish trend. The price, which is closely fluttering around $0.3745, faces rejection at the levels around $0.384. Following this, the price dropped toward the lower support at $0.3610 which coincided with the trend support line.
The XRP price during the last few days of February rose finely to mark the interim highs above $0.4, but woefully, a bearish trigger was really triggered that dragged it towards the lower support at around $0.361.
Since then the price is attempting to rise back beyond $0.38 but has failed every time. Therefore, now that the bulls appear to hold significant strength, the price is believed to plunge and test the lower support again before undergoing a bullish breakout.
Presently, the XRP price is trading at $0.3759, with a jump of 1.26% in the past 24 hours, while the market capitalization continues to hover around $19.17 billion. The trading volume records a massive spike of more than 40%, surging beyond $1.5 billion, with 50% of its supply circulating out of the total supply.