Ripple cost was stuck exchanging under a declining trend line for over a month. Nonetheless, on December 18, XRP cost cut through this resistance and rallied 15% to set up a swing high at $0.915. Although the settlement token faltered, the run-up proceeded to retest the $0.956 ceiling. The bid orders kept on streaming, permitting the XRP cost to return to the $1.015 resistance level. Altogether, Ripple has energized 26% since breaching the said supply barrier. While this ascension was great, there is a decent chance XRP cost will retrace now as investors start booking benefits.
While things are looking up for XRP price, a sell-off that pushes the altcoin to undo the recent gains will threaten the bullish outlook. Interestingly, Ripple can drop up to $0.752 and not have to worry about a bearish regime. However, if Ripple price produces a swing low below $0.688, it will create a lower low, invalidating the bullish thesis.
This development will allow the sidelined buyers to step in, triggering a 15% ascent from $0.956 to the next hurdle at $1.102 In a bullish case, the XRP price could tag the $1.222 swing high and collect the liquidity resting above it.
- XRP price to provide a buying opportunity before Ripple rises 15%
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