As the Ripple vs SEC lawsuit is approaching its climax, the market sentiments have become more positive, which is in turn impacting the XRP price. Therefore, one can expect a notable upswing in the coming days as the short-term and long-term fractals display a bullish breakout fast approaching!
Ripple (XRP) Price Analysis – Short Term
Ripple has shown tremendous strength since the rally in the last few days of September. Since then the price has risen, making consistent highs and lows. Currently, the price is close to a major breakout which could lead the price near $0.7 in the coming weeks.
The XRP price underwent a heavy correction due to the CPI that resulted in a descending move towards $0.45. This area was a high potential to place the long bet which appears to have been accomplished well as progressive entries at $0.48, targeting $0.65. The final kick-off may be when the XRP price surges beyond $0.52, beyond which a continuation of an ascending trend may be expected.
Ripple (XRP) Price Analysis – Long Term
Meanwhile, the daily chart shows a rising potential for XRP price in the coming days as the asset remains above support. Moreover, the price is also showing immense support with the BTC trading pair as well. Therefore, this could also affect the USDT pair’s momentum, which could gain momentum for some bullish gains.
While the XRP price is trading within an ascending triangle in the short term, the asset is trading within a bull flag in the long term. As the platform received huge liquidity, the bullish momentum may continue to prevail, enabling the price to rebound from the current lows and rise above the resistance, breaking the resistance to reach the initial target at $0.6.
