The post Ripple Price Analysis: XRP May Undergo a Gaint Price Action if Bulls Hold Strong at These Levels appeared first on Coinpedia Fintech News
The XRP price has been trading under a bearish influence for quite some time but has been able to hold above $0.46 after receiving a notable push from the lows around $0.42. The token is displaying some strength, due to which the price is believed to maintain a notable upswing. This may further enable the asset to break above the crucial resistance level and soon enter one of the major areas between $0.56 and $0.61.
The ongoing Ripple vs SEC case is said to be one of the many factors that have kept up the strength of the rally. Regardless of the market sentiments, that has been pretty misty, as the major tokens are witnessing certain hindrances while the lesser-known tokens and the primitive tokens with a limited market cap have gained huge attention.
However, the shift of momentum away from the major cryptos has not impacted the XRP price which has been displaying acute bullish momentum at the moment.
One of the popular analysts, EGRAG CRYPTO, offers 3 targets for the XRP price in the coming days. According to the analyst, the price is about to test the final wakeup line, which may indicate the next breakout. If these levels are broken, followed by a retest without breaking the lower FIB levels at 0.23, a small upswing may be on the way with the 3 targets towards the north.
- Target 1:- $0.85 that may be the result of a breakout from the ‘w-formation’ which may push the price above $1
- Target 2:- $5.5, as a result of a breakout from the gigantic symmetrical triangle
- Target 3:- $6.4 where in the FIB 1.618 resides
However, the analyst also highlights the tiny yellow triangle, which is at the apex of the consolidation. A failure to breach above the resistance line may enable the price to trade within the triangle and reach the apex. Here, the price may undergo a breakout depending on the volume induced.