XRP Price Prediction, Bulls Take a Backseat as Bears Wipe Out Gains
- XRP price shows consolidation between $0.6 and $0.7 in recent weeks.
- Yesterday's surge is linked to expectations of lower settlement costs amid the SEC lawsuit.
XRP struggles beyond $0.650, retreats to $0.6200.
According to Coingabbar Price Analysis, XRP is currently rebounding from the $0.578 support level.
A new rally may commence if it successfully surpasses the $0.650 and $0.655 resistance levels.
XRP is currently within a Symmetrical Triangle Pattern on the daily chart.
Short-term sideways movement is indicated by the relatively flat 20-and-50-day EMA.
Yesterday, a bullish candle on the daily chart resulted in a 6.50% increase.
Bears are active around the $0.650 mark, leading to a retracement towards $0.6200.
The question remains whether the ongoing consolidation phase will persist or if a breakout is possible.
KEY LEVELS :
RESISTANCE LEVEL : $0.6500-$0.6700
SUPPORT LEVEL : $0.6000-$0.5700
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
