Rally Will Precipitate XRP Price Drop At This Level Soon?
After enduring a series of sea saw of volatility XRP Price have steadied at $0.33 in the past week. However, the recent high when XRP breached $0.38 has not been achieved and the values kept fluctuating under $0.36. The short rally achieved for the Ripple native coin could precipitate a price drop for the seventh ranked cryptocurrency.
When reports last came in the values of XRP was $0.336649 down 0.4% as per data from coingecko.com.
XRP Price Drop In The Offing
As per experts XRP Price can enter a bearish phase if the current price range of $0.33 leads to a price surge to $0.35 level, it could also precipitate a bearish pattern and the value could also drop to $0.27 if the bearish pattern continues, it said.
According to Bitcoinsensus “XRP can rally to $0.3580, and if we see bearish rejections around this level, we can expect the next drop to $0.3230/$0.2970 and $0.2760. XRP is reaching the FIB level around $0.3630. If bearish patterns appear price will fall to these targets.”
The Fibonacci level of $0.36 is beyond the reach of Ripple but another pressure point of $0.32 is well within its reach. Therefore, if the crypto values reach $0.32 a tanking in XRP Price values can be expected to $0.29 and $0.27 in short term.
“We saw a perfect retest of the FIB level, and we’re reaching Target 1 of $0.3230. Soon, we will potentially drop to $0.2980 and $0.2760 too.”
Breaching The $0.38 Level Could Lead To A Bullish Trend
For XRP to gain a bullish momentum, the breaching of the $0.38 level is critical. In the past , XRP has been stuck between the range of $0.388-$0.315 zone. A bullish episode can only be seen if the token manages to breach this difficulty level. Last month the Ripple Native Coin had touched $.40 and subsequently it went into price correction mode. Incidentally the coin had touched $.42 in the end of May. Also, a low of $0.30 was seen in June when crypto mayhem had annihilated the values of most crypto assets.