Briefly-
- Ripple shows buyers’ resurgence as the remittance token tests the resistance level at $1.015.
- A slight correction to $0.956 will catalyze a 15% upward move to $1.102.
- XRP registering a swing low beneath $0.688 will see the bullish narrative fading.
Ripple (XRP) has maintained an upward streak since breaking out of a critical resistance hurdle. With such actions, Ripple defied its near-term bearish picture. For now, market players can expect cross-border crypto to extend its upsurges after a slight correction.
Ripple Targets Higher Highs
Ripple saw pressure as it traded beneath a declining trend-line for over one month. Nevertheless, 18 December sessions had the alt slicing past this obstacle and recorded a swing high of $0.915, following a 15% surge.
Though XRP faltered, the upswing continued retesting the ceiling at $0.956. Nevertheless, the crypto saw more bid orders and took it as an advantage to revisit the resistance level at $1.015. With that, Ripple gained 26% since breaking the supply barrier highlighted above.
While this upswing was lucrative, XRP has chances to fall now amid profit booking and investors. Such moves will attract sidelined buyers, catalyzing a 15% upsurge to the hurdle around $1.102 from $0.956.
If bullishness intensifies, the remittance alternative coin might tag the swing high at $1.222 and gather liquidity above the mark.
Though everything appears upward for Ripple’s piece, a downfall that pushes XRP to erase its latest gains will intimidate the bullish picture. Surprisingly, the token may plunge towards $0.752 but not worry about bearish dominance. Nevertheless, a close underneath $0.688 will mean XRP producing a lower low, annulling the bullish case.
For now, Ripple shows buyers momentum as it tests the resistance area at $1.05. However, XRP seems ready to explore retracement before embarking on its rally. The alt can fall to $0.956, providing a launchpad for a 15% upswing to hit $1.102.
That way, the cryptocurrency had a dip-buying opportunity for interested individuals. Meanwhile, the alt has to prevent a lower low under $0.688 to keep the bullish hopes alive.
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