XRP price broke above important resistance levels, flashing huge bullish signals, aiming to close the day’s trade on a bullish note
The XRP army is displaying huge strength than that of Bitcoin, and hence a rise in the price may also ease the current bearish clouds over the crypto space.
XRP price is surging, decoupling from the entire crypto space. Marking more than 8% gains since the early trading hours, the price now aims to reclaim the levels above $0.45 at the earliest. Meanwhile, the bears continue to remain unresponsive for a while, which may impede the possibility of a major rejection until the end of the day’s trading.
Regardless of the proceedings in the Ripple vs SEC case, the XRP price continues to manifest an independent rally. Hence, the asset could gear up and intensify the upswing that it ignited since the beginning of the monthly trade.
The major accomplishment of the XRP price is that, despite the presence of bearish clouds, the XRP price did not test the June lows, while most assets formed new ones. This clearly shows that the XRP community was stronger than the BTC community, which drove up the price. Therefore, a significant upward price action may be aspiring for the next few hours.
As the price has decoupled with the market sentiments, it’s time for the buyers to realize their strength and act accordingly. Presently, one can expect a growth impulse that may hit $0.5 wherein the bears may compel the price to remain consolidated for a while. Furthermore, the next impulse wave may trigger a larger price action that may break the trendline and reach the local target of around $0.6 to $0.65 in the next couple of weeks.
Collectively, Ripple’s XRP price is displaying acute strength that may help trigger a large price movement in the coming days.
Written by: Sahana Vibhute