The cryptocurrency is now starting to show some signs of life as its buyers attempt to propel it past the key resistance at $0.30. The $0.3000 level catalyzed several rejections before now.
It’s been happening for months and it’s going to keep holding XRP back until the token gathers the momentum it needs to establish a new major upward support against the USD. During its latest dip, the XRP token touched crucial support, and bouncing above this level will mean higher highs near-term.
Taking to Twitter, a popular XRP analyst said that the token is not just going to move higher against the USD but Bitcoin BTC as well. In his words;
“XRP: Looking like it can move up towards 3k sats (prev range highs) and follow ETH up and majors up. Taking a deeper look at this I think most the market is sleeping on it but won’t belong. A lot of signs pointing towards a major reversal. But for now, short term targets”,
Yesterday night, the XRP token tried to move above the resistance at $0.3000 but faced selling pressure and moved lower against the USD. The strong support at $0.2700 level is holding steady and preventing lower lows. If XRP holds the line, there is a strong chance that the bulls will gather momentum against the USD.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Ripple XRP is Predicted to Surge Significantly Against the USD
- XRP May be Struggling to Cross the Resistance at $0.3000 as the Token Remains in the $0.2900 Level
In the last few weeks, Ripple XRP has been alternating between its regular lower lows and possible price surges. At its peak, the price of XRP reached the $0.3300 where it faced serious rejection and started declining lower against the USD. Since then, the token has been on a steady decline. Things got even worse when the token fell below the $0.3000 level and started hovering above the $0.2900 level for days. The resistance at the $0.3000 level is strong but some believe that all hope is not lost for the token.
Ripple News Today – XRP Has a Bright Future Despite Current Price Action
At the time of writing, the price of XRP was $0.296773. It is down by 0.17% against the USD and down by 1.01%. The trading volume over a 24 hour period is $2,245,775,080 and the market capitalization is $13,330,648,699.
While the token is still struggling to retest the resistance at $0.3000, it is still way above the recent $0.2700 lows and there is still a strong chance that it will gather bullish momentum against the USD soon. The buyers are attempting to return with full force but we are not sure when they will put enough pressure on the token to see it rise above $0.3000 once again.
