Following days of market volatility, all eyes are on XRP as it stands before a crucial resistance level. Known crypto analyst CrediBULL Crypto highlights XRP's potential amid recent profit-taking.
XRP/BTC Pair Shows Resilience
In a recent update, CrediBULL Crypto identified the XRP/BTC pair as one of the most bullish in the crypto market. The recovery from recent lows of $1.96 hints at a potential upward breakout. The chart demonstrates a 'powder keg' effect, with prices consolidating at a critical support zone, setting the stage for a strong move. The formation of higher lows and consistent support from the recent bottom highlight XRP's resilience.
Analyst’s Plans for a New Long Position
Observing the bullish scenario for XRP, CrediBULL Crypto plans to re-enter the market with a new long position in the coming days, reinforcing confidence in the XRP/BTC positive outlook. Based on the analyst’s one-hour chart, XRP may experience a slight dip before a significant rise.
XRP Price Analysis
Despite recent price fluctuations, XRP Whales recently acquired 40 million tokens during a downturn. Currently, XRP is trading at $2.178, down over 4% in the past 24 hours, but is eyeing key support at $2.35. Some analysts believe breaking this resistance could spark a rally to $2.40, $2.50, and $2.65.
XRP shows robust resilience amid market fluctuations. Breaking key resistance levels could pave the way for significant price advances.
