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XRP Price Hovering Around Critical Zones, A Breakout Is Mandatory

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XRP price, currently, appears to be pretty confused with the upcoming movement as, despite a push, it failed to sustain. The previous trading day witnessed a 15% jump within an hour, but the bears jumped into action in no time. However, the price without shedding too many gains, revisits previous levels, keeping the hope of an uptrend alive. 

The price at the press time is undergoing a healthy consolidation just above $1, struggling to keep up these levels. Currently, the bears appear to be pretty weak, but the bulls are also not fully active. And hence, leaving the price in a hazy state, unaware of the direction of the upcoming leg. 

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xrpprice

After teh recent fake-out, the price yet again fell within the same parallel channel. And woefully, the price is trending in the lower bands, showcasing a possibility of a breakdown. Yet a couple of green candles that are attempting to build a slight buying pressure keeps the hopes of an uptrend alive. Currently, the need of the hour is to regain the positions above $1.09, somewhere at $1.1 to initiate with an uptrend. 

Also, the trading volume has risen slightly compared to that of the previous week. And hence it could indulge a little volatility, which in turn could invite the bulls to jump in. Collectively, the upcoming weakened could be pretty positive if the XRP price successfully holds within the channel. If in case, it dips below the channel, it could plunge below $1 too. But the bulls who appear passive right now, waiting for the correct time to jump in, can accomplish their task very soon.

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The Blogger Scientist is a "Medical Physiologist" and a "Financial Asset" Content Creator who aims at enlightening web reader on varying Financial Assets such as Stocks, FX, Crypto, MLM,. HYIP among others.

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