What Is Hindering XRP Price Rally To Rise Above $1?


Ripple Price Rally Slowed Down

XRP price after significant months of consolidation had broken out of its comfort zone to mark new highs close to $2. Yet the bears jumped into action to drag the price below the support levels. And since then, the price is attempting very hard to smash $1 levels, woefully gets rejected each time.

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The price has trembled down at the times when it was on the verge of forming new yearly highs. Yet XRP price is expected to experience a monster rally which may lead the price above $30 by mid 2021. According to a popular analyst, CryptoBull2020, the price may rise as high as $375 by next year.

However, the analyst believes that in the short term, the price may eventually hit $10  and keep the bullish momentum intact to propel further.

Also Read: XRP Price Will Bloom Again, New All-Time Highs Soon!

XRP Price Analysis 

As mentioned earlier, the price appears to be trending in the accumulation zone, where-in the price is consolidating for quite a long time. Moreover, the chart showcases the probable uptrend incoming the price is on the verge to break the upper resistance level of the ascending triangle.

xrp chart

Despite a decrease in the trading volume of about 24%, yet the price managed to smash $1 at press time. However, the market cap and the gains both suffer a decline, yet the price appears to be poised to smash the higher levels soon.

Technical Specifications

  • The resistance levels are initially at $1.07 and later at $1.2
  • The support levels are at $0.93
  • The indicators point out at a sell signal

Also Read: Analysts Set The Worst Price Target for Bitcoin Down to $15k





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