Ripple XRP price is gaining massive momentum as the cryptocurrency space oscillates between bullish and bearish trends. With the sudden shift in focus on meme coins like Shiba Inu, major cryptocurrencies are trading sideways. Thus, the XRP price that is currently consolidating may break to break the upper resistance soon.
XRP price started the current trading month on a bullish note with a strong reversal from the downside. However, the price that flows through the current market sentiment is currently accumulating without giving up high positions. The price needs to constantly maintain these levels and rise, and break the consolidation in order to push the price higher.
Also Read: Bitcoin Retests Critical Resistance!! When will Cardano, Solana and other Altcoins break out?
As mentioned above, the price is trying very hard to break the “cup and handle” and push higher. The next immediate resistance is somewhere between $1.65-$1.75, so maintaining above these levels may be critical. Building bullish momentum for the asset could run towards these resistance levels. After a simple consolidation, the price can eventually range at a high level to reach the target.
On the other hand, the Ripple VS SEC case flows in favor of the crypto company. Other developments such as cooperation with Bank of Qatar and creation of an innovative fund NFT could positively affect the price of XRP.
Read also: Shiba Inu’s share is up over 200%! What then? WILL THE SHIB PRICE DROP OR REACH ATH
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