Ripple, which is at a critical stage in terms of its technical structure (XRP), can prepare for unstable movements.
seconds– The current bearish ripple tension has naturally affected the XRP price structure. XRP, which was on the agenda with a price rally during the hot days of the case, could be gaining momentum again. But the momentum appears to be coming from the technical side rather than the news cycle. XRP, which is trading well above minor support, what price could it test after breakout?
Ripple (XRP) Technical Analysis
XRP, which has been trading in the range of $0.486 – $0.546 since August 18, declined to $0.486 in BTC with a weak outlook. The major coin, which gained strength as BTC surged to $26,000 and overcame its next resistance, bounced back above $0.503. However, pricing very close to the support level has not put an end to the dangers just yet.
In case of a decline below $0.503, further declines to the ranges of $0.0486 – $0.449 and $0.42 respectively would be on the table. Serving $0.503 as a support and spending time above it could whet the appetite of XRP investors. In such a scenario, the first resistance levels to follow would be $0.527 and $0.546. This corresponds to an increase of 4.79 per cent and 8.69 per cent from the current price.