- XRP price stays strong around the $0.28 support line, with the $0.32 resistance level giving a chance for breakout.
- 1.074B XRP stuck between $0.32-$0.33, resistance capped for future price movement.
- XRP price keeps down at consolidation, where key markers are price actioning $0.28 and $0.32 with the next major move.
This recent action of XRP price has raised questions whether it will have a big rally after it gained support to trade back at $0.28. With XRP keeping above this important support region, traders and investors are paying attention to price movements in the next few weeks. The most significant figure to be considered to understand the immediate future is pricing and the interaction of the price with known resistance.
XRP Price Tests $0.28 Support as Market Eyes Potential Breakout Above $0.32
XRP price is approaching major support at $0.28, with recent price developments perhaps hinting a bullish breakout. Critical barriers such as breaking a $0.32 resistance zone are some of the issues being monitored by analysts such as @ali_charts to determine the possibility of the XRP price breaking. Should XRP price remain above $0.28 and breach $0.32, this might indicate the beginning of a bullish run to further positions such as $0.34.
Source: ali_charts/X
The $0.32 resistance is crucial because around 1.074 billion XRP are supplied at this point, and it forms a robust barrier. Effective breakout above this level might initiate further increase, whereas failure to break through may result in further consolidation or drop. The days ahead will be critical to the future of XRP price.
XRP price has already reached a support level at $0.28, and there is a likelihood that traders are currently sitting on their positions, trading to avoid further falls. According to analyst STEPH IS CRYPTO, this level of buy interest has resulted in a strong base, which could result in a breakout above resistance levels, independent of the following major target occurring at around $0.32. A break above this mark may propel XRP to $0.35.
Source: STEPH IS CRYPTO/X
XRP price is in the consolidation stage between support at $0.28 and the resistance at $0.32, which indicates some accumulation. The next step would be determined by the ability of XRP to maintain above $0.28 and break above 40.32 with an upward target of $0.35 or higher.
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