Briefly –
- XRP price slithers close to overpowering the falling trend-line before triggering a massive upswing.
- A significant-close beyond this obstacle will allow XRP to revisit levels at $0.956, then $1.030.
- If the cross-border transactions coin formed a lower low under $0.688, it would withdraw the bullish narrative.
Ripple’s (XRP) price has traded within downtrends for almost one month, but the alt is gradually nearing an inflection level. A price breakout from this obstacle might catalyze a full-blown surge for the alternative token.
Ripple Resurgence Likely
As highlighted earlier, XRP remained stuck in a descending resistance line for over a month. Furthermore, each bulls’ attempt to breach the obstacle has failed. Meanwhile, the latest buying pressure uptick appears to have XRP retesting the barrier.
A decisive close beyond the $0.900 level will confirm a breakout from the ceiling, indicating a new uptrend start. In that case, Ripple price will target a $0.950hurdle retest. Overpowering this level will clear the road towards the resistance market of $1.030. Moreover, the remittance token will gather liquidity above this level.
In total, the upsurge for Ripple price would show a 23% upsurge from XRP’s current level – $0.828. While touching $1.030 might be a near-term aim, increased bullish pressure may see Ripple price extending its upswings toward $1.10 for a 33% raise?
If Ripple fails to overcome the declining trend-line, it will confirm weak buying pressure. Sellers can then knock XRP down towards $0.688. A swing low under this mark will nullify the bullish narrative for the remittance token. That way, XRP can crash further to $0.612.
For now, the crypto environment wavers within bullish actions. That came as US Fed decided to leave interest rates untouched. Bitcoin surged to $49,000 after the news. If the market retains the current mood, assets will witness upward moves. Meanwhile, BTC overcoming the psychological level past $50,000 can trigger steady rises in the global markets.
As alternative tokens mimic BTC’s price moves, higher highs by Bitcoin will mean surges for altcoins. With that, XRP can climb to its anticipated target. However, Ripple bounce might depend on the global markets sentiments.
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