Ripple, and most of the altcoins, have reached minimums precrisis levels. This can be interpreted as a pull-back to the resistance that has been flipped to a support. Therefore, suggesting that we might the seeing XRP price bouncing back up.
However, the price has been putting a lot of pressure in the support at 0.26 for more than a year already. This pattern took place in the Bitcoin chart back in November 2018. And what happened? The price broke the support downward and performed the so-called cup and handle pattern, to thereafter begin its bull run.
XRP is having a similar behaviour. It has two main scenarios. One where the price breaks 0.26 downward and, potentially, performs the cup and handle breakout. And a second one where the price bounces back up on 0.26.
--CRYPTOHOPPER--
However, the price has been putting a lot of pressure in the support at 0.26 for more than a year already. This pattern took place in the Bitcoin chart back in November 2018. And what happened? The price broke the support downward and performed the so-called cup and handle pattern, to thereafter begin its bull run.
XRP is having a similar behaviour. It has two main scenarios. One where the price breaks 0.26 downward and, potentially, performs the cup and handle breakout. And a second one where the price bounces back up on 0.26.
--CRYPTOHOPPER--