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Ripple’s XRP price is regaining the lost momentum and rallying high in the past couple of days with a progress in the Ripple-SEC lawsuit. The price rallies considerably each time with a new update on the suit and hence jumped more than 10% recently.
Since the recent jump, the XRP price entered the consolidation zone and is trending sideways before the next leg up. Moreover, according to crypto analysts, Cryptobull2020, a huge move for the price is fast approaching within the current trading day.
The pattern followed by the asset clearly manifests a huge jump incoming very soon. At the time of writing, the price stands at $1.54 with a slight pullback of 1.58%. Yet the past 24 hr change has plunged but the asset has rallied close to 25% in the past week.
Technical Specifications
- The resistance level for Ripple’s XRP price is at $1.61, where-in the price is rejected multiple times
- The support level is at $1.55
- The indicators for XRP price points out at a buy signal