Is Ripple (XRP) back to bullish cycle? – price analysis
The bears pulled XRP below the breakout level of $0.57, but they could not sustain the lower levels. This suggests aggressive buying on dips.
The bulls will try to push the price above $0.64, setting the stage for a move to $0.67 and later $0.74. Sellers are expected to defend the $0.74 level with all their might. If the XRP/USDT pair turns down from $0.74, it will signal that the range-bound action may continue for a few more days.
The $0.57 to $0.54 zone is expected to act as a strong support on declines. A break below the zone will tilt the advantage in favor of the bears.
The bulls will try to push the price above $0.64, setting the stage for a move to $0.67 and later $0.74. Sellers are expected to defend the $0.74 level with all their might. If the XRP/USDT pair turns down from $0.74, it will signal that the range-bound action may continue for a few more days.
The $0.57 to $0.54 zone is expected to act as a strong support on declines. A break below the zone will tilt the advantage in favor of the bears.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.