As Bitcoin price is chilling a bit after a huge uptrend, more of the altcoins are primed to pump very hard. Woefully, the traditional cryptos are also shedding their gains to a large extent, plunging down from the same resistance-flipped-to-support levels.
XRP price also with the recent jump and the advancement in the Ripple vs SEC case had surged beyond the crucial resistance levels but the asset is plunging hard since the past couple of hours.
However, the pullback was pretty much expected as the resistance along $0.86 was extremely important as it was one of high liquidity areas.
With the spike, the area was speculated to get converted into a high demand area, but it failed. Despite the bears are pretty much in action, yet the bulls are also holding the asset strongly to prevent the price loose more value.
Currently, XRP price is testing one of the crucial levels after rallying more than 30% due to the recent update of Ripple getting a grant to explain ‘fair notice defense’ in the case. The asset is now testing one of the crucial trend lines which has followed from a couple of years before.
If in case the asset gets rejected at these levels a possibility of retesting the immediate lows or support at $0.788 is extremely likely. Else if XRP price manages to slice through these levels then it may range high to hit $1.32 quickly.
Overall the crypto space is turning remarkably bullish since the beginning of February 2022 and hence significant gains may be expected in the upcoming days. Therefore, a notable uptrend with the XRP price may eventually uplift the asset beyond $1 in the next 2 to 3 days from now.