As the Ripple vs SEC lawsuit is approaching its climax, the market sentiments have become more positive, which is in turn impacting the XRP price. Therefore, one can expect a notable upswing in the coming days as the short-term and long-term fractals display a bullish breakout fast approaching!
Ripple (XRP) Price Analysis-Short Term
Ripple has been displaying immense strength ever since it rebounded in the last few days of September. Since then the price coiled up, forming consistent higher highs & lows. Presently, the prices are closer to a major breakout that may rise the price close to $0.7 in the upcoming week.
The XRP price underwent a heavy correction due to the CPI that resulted in a descending move towards $0.45. This area was a high potential to place the long bet which appears to have been accomplished well as progressive entries at $0.48, targeting $0.65. The final kick-off may be when the XRP price surges beyond $0.52, beyond which a continuation of an ascending trend may be expected.
Ripple (XRP) Price Analysis-Long Term
Meanwhile, the daily chart displays the rising potential of the XRP price in the coming days as the asset appears to have sustained above the support. Moreover, the price is also showing immense support with the BTC trading pair too. Therefore, this may impact the momentum of the USDT pair as well, which could find some bullish momentum to surge high.
While the XRP price is trading within an ascending triangle in the short term, the asset is trading within a bull flag in the long term. As the platform received huge liquidity, the bullish momentum may continue to prevail, enabling the price to rebound from the current lows and rise above the resistance, breaking the resistance to reach the initial target at $0.6.