XRP Price after a prolonged consolidation is on the verge to spike up very soon, offering decent benefits for the traders
The price is expected to offer another buy at the dip opportunity and propel to higher levels
Ripple’s XRP price is which was in a strong accumulation phase, appears to have broken to jump high of let. The price was trending in the buying zone for quite a long time and now all set to break the upper barriers. However, in the due course, some corrections or pullbacks cannot be neglected.
A popular analyst, ForecastCity_ME believes a great buying opportunity may be approaching very fast. The price which is consolidating well may experience a slight pullback if the support levels at $0.5054 are broken. And hence a good buying opportunity for the traders may be on the cards very soon.
The price is well in range bound and could initiate with an uptrend very soon. The analyst in the chart mentions the various levels, the XRP price may rally in order to reach the set target above $1. Initially, the price needs to break the immediate resistance at $0.7 and also maintain without undergoing a breakdown. The target set by the analyst is around $1.1959 in the short term.
XRP Price Analysis
XRP price experienced a massive fall in the last week of June, which compelled it to remain low-key through out the week. Despite the volume remained consistent, yet it did not impact the price to a larger extent in either ways. Yet a decent uptrend was maintained, no doubt it also withnessed a couple od dumped, yet sustained above the ascending trend line.
The XRP price at the press time stands at $0.6654 with a dip of 1.54%. However, the trading volume has increased considerably which indicates an increased user activity. This inturn implies a positive uptrend incoming for the asset very soon.
- The resistance levels are at $0.6671
- The support levels are at $0.6242
- Indicators point out towards a sell signal