The crypto space throughout the past weekend maintained a notable uncertain price trend. The BTC price that traded above $40,000 throughout the past week suddenly lost to the bears and plunged below the crucial support levels. This ignited the market to flip the trend from a healthy consolidation towards a downtrend.
On the other hand, XRP price also maintained a consistent trend after the extreme slash in January 2022.
The prices are currently ranging much above the plunged levels and while a huge price slash is going on, the possibilities of a massive uptrend also surface.
Ripple price has been consolidating since February 12 and appeared to be primed for another breakout soon.
Markets were all ready to push the price above $1, but the bears became pretty much active in very less time which slashed the possibilities of going high for some time.
What’s Next For XRP Price?
The XRP price currently awaits for a notable volatility as the volume in the short term has been dominated by the bears.
The XRP price despite multiple sell-off has maintained the lower support levels. And hence after hitting these levels, the asset tends to flip each time hitting the upper resistance of the descending triangle.
Considering the current trend, the asset does not appear to be primed for an immediate breakout but may continue to hover within the triangle until it reaches the apex of the consolidation. Further, the asset could breach through the levels and hit the upper resistance just above $0.8 instantly.
The Ripple in recent times has gained a little upper hand in the case against the SEC and hence this has helped the asset to gain a little confidence within the investors.
Therefore, with the advancement in the case, the XRP price may also be impacted at the fullest. No doubt the price may not immediately regain its lost positions above $1 and hover until the end of the month, yet may end the quarterly trade at a bullish note.
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