XRP price gets rejected at the upper resistance levels and flips the bullish momentum into bearish divergence
With the continued price plunge, the XRP price smashing the upper resistance levels and attaining the yearly highs remains misty.
XRP Price Dumping Hard
The XRP price has risen above the levels as the Whales continued to stack up at the price dip. The recent Ripple-SEC lawsuit hearing had given a major boost to the price. The was surges notably with the clarity given regarding exchanges.
However, the surge remained a short-lived one as the asset plunged and revisited the lower levels below $0.45. Despite the plunge, the price managed to sustain the trembled situation. And surged high close to the upper resistance levels at $0.56, yet got rejected.
Previously, when the price hit the upper resistance levels between $0.58 and $0.6, the price failed to sustain and dropped miserably. Nevertheless, the fresh surged manifested a strong desire to smash the levels, yet again got rejected a $0.56.
Currently, the price is plunging hard and on the verge to visit the support levels at $0.54. The prime focus would be to witness whether the price would fail to break the support levels and rebound, else dip to the next support levels at $0.499.
Once the price breaks the support levels at $0.499, then testing the support zone in between $0.46 and $0.48 would be inevitable. Therefore it is mandatory for the XRP price to bounce back to the upper resistance levels. However, the inputs from the Ripple-SEC stand-off may aid the price recovery.