XRP price continues to trend within the same range that it followed since a weak. Moreover, it appears that the momentum of the asset has weakened as the margin has also narrowed to a larger extent. Yet it could also be a final accumulation before a massive leg up, yet still, confirmation is awaited.
The asset, since the recent sell-off managed to stay strong above $1 and hence keeping the hopes for a notable bull rally alive. As mentioned earlier, the price could break out very soon but some factors may pull back the rally to a still position. And moreover, the narrow trend could continue for a while until the price comes close to an outcome.
The price is currently swinging within a symmetrical triangle, moreover, it’s approaching the upper barriers. Currently, the XRP price can either break through the triangle and head towards the upper resistance. Else, the narrow trend could continue for some more time until it reaches its peak. In such a case, the direction of the breakout could be hard to determine.
However, after pretty much consolidation, the price tends to smash the upper resistance soon. Moreover, the updates from the Ripple & SEC case can also provide a substantial boost to the XRP price. Currently, it’s mandatory for the price to break above the triangle and if not trend with the triangle. Yet the sufficient and growing trading volume could squash the bearish narrative.
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