Ripple’s XRP price is gaining immense momentum as the crypto space is swinging in between the bullish and bearish trends. With the sudden shift of focus on the meme coins like Shiba Inu, the major cryptocurrencies are trading sideways. And therefore, the XRP price which is consolidating currently could breakout to smash the upper resistance shortly.
The XRP price began the current trading month with a bullish note with a strong reversal from the bearish trend. However, the price flowing through the current market sentiments is currently accumulating without giving up the elevated positions. The price needs to constantly maintain at these levels and surge, breaking the consolidation in order to propel high.
As mentioned above, the price is attempting very hard to break the ‘cup & handle’ and propel high. The next immediate resistance lies somewhere in between $1.65 to $1.75, and hence sustaining above these levels could be extremely crucial. The asset, building bullish momentum could march towards these resistance levels. After a small consolidation, the price could ultimately range high to hit the target.
On the other hand, the Ripple VS SEC case is flowing in favour of the crypto company. And other developments like collaboration with the Bank of Qatar and creating an NFT creator fund could positively impact the XRP price.