The $0.25 resistance has proven itself as a crucial point for the XRP price and today, we can see that there is another wave of profits for Ripple’s token. What we know from the cryptocurrency news is that the market may have finished its correction period and might be returning to the previous heights.
Now, we can see that all of the top 10 coins show positive price dynamics and the biggest gainer has been Tezos (XTZ) which rocketed by more than 10% in the past two days. The XRP price and its momentum is positive, but the token’s performance has almost not changed at all in the past week despite its rate rising by more than 2.89% in the last 24 hours.
We can also see that the XRP quotes on the daily charts continue to fail. The price returned below its moving averages (MA) which are used in the presence of a bearish trend. Currently, it is not possible for the bulls to seize this initiative and show positive XRP news today.
However, there is some uplink support which is important for the XRP price and the overall stability. On the RSI, we can notice regular upward corrections as it tested the 30 region on the indicators.
On the 4-hour charts, we can see that the Ripple XRP price has adjusted as part of the Triangle model. The values of the RSI have broken through the downward trend line and the general action we are seeing now is stable with a potential to overturn to bullish.
One should not exclude the attempts to test the $0.21 level, however, where the broken trend line is located. Only after that is where the start of the price growth may lie. In the words of one popular analyst, the XRP price and the token could visit massive heights of 80%. According to Credible Crypto, the decision of the Supreme Court of India to reverse the ban will be bullish for XRP.
“Regulatory clarity was the final piece of the puzzle that was holding Ripple back from going after the Indian remittance market aggressively. Great for XRP,” the analyst explained.
The price of Ripple (XRP) today is at $0.2426 with a 1.19% rise on the day.
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