Ripple (XRP), which is at a critical stage in terms of its technical structure, may be preparing for volatile movements.
The current slowdown in the SEC-Ripple tension has naturally affected the XRP price structure. XRP, which was on the agenda with upward price movements during the heated days of the case, may gain momentum again. But this momentum seems to come from the technical side rather than the news cycle. What prices can XRP, which is trading just above the minor support, test after the breakout?
Ripple (XRP) technical analysis
XRP, which has been trading in the range of $ 0.486 – $ 0.546 since August 18, was reduced to $ 0.486 with the weak outlook in BTC. The major coin, which gained strength from BTC’s rise to $ 26,000 and overcame its next resistance, jumped above $ 0.503 again. However, pricing very close to the support level has not ended the dangers yet.
In case of a downward break of $ 0.503, declines to the range of 0.0486 – 0.449 and $ 0.42 will be on the table, respectively. Working at $0.503 as support and spending time above it may whet the appetite of XRP investors. In such a scenario, the first resistance levels to follow will be $0.527 and $0.546. This corresponds to an increase of 4.79 percent and 8.69 percent from the current price.
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