XRP Price Rises High, But Need To Retain These Positions To Gain Bull’s Confidence!

The post XRP Price Rises High, But Need To Retain These Positions To Gain Bull’s Confidence! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The crypto space is slightly recovering as the Bitcoin price is yet again above $42,600 at the press time. With the star crypto gearing up, the altcoins specifically XRP price initiated a strong recovery. Currently, the asset leapt long more than 10% and began consolidating within very narrow ranges. However, the XRP price needs to attain certain levels before the bulls uplift the price above $1.

A huge buying volume is accumulated which led the XRP price to rise above the $0.77 consolidation. However, the buyers got exhausted while the sellers appear not to be keen on dragging the price down. Despite the price is swinging within narrow braces yet the probability of rising above the accumulation is considerably high. 

Also Read: Polkadot(DOT) Price In Deep Trouble, Display A Possibility of Plunging Below $15!

Currently, as a result of a huge upswing and further consolidation, the XRP price is swinging within a bullish flag. This pattern is considered as an indicator of the next upswing which escorts the price towards the next resistance. No doubt, the XRP price may break through the consolidation and hit the immediate resistance at $0.86. Yet the bulls at this stage may still be not sure of the price trend. 

The XRP price has been rejected multiple times just above $0.9 levels which is now the strong resistance to validate an uptrend. And hence the bulls may induce a high buying pressure not only when the asset slices through these levels but maintain the uptrend close to $1. Until the Ripple price does not reaches levels above $0.975 to $0.983, bulls may not regain their confidence over the rally. And hence the asset has to go all alone until these levels, later the bulls may take care of the uptrend.