While most of the best cryptocurrencies, Bitcoin included, seemed to organize a recovery and return to green, the XRP price has slipped into the red zone. It fell to 2.28 when Ripple Labs has just announced a major partnership agreement with Guggenheim Partners.
With the feeling on the markets that apparently improve, this unexpected sudden drop leaves many traders caviliser. From a technical point of view, however, there are still good news for XRP holders, because they think it is currently capped above $ 2.25, which is a level of trace of crucial fibonacci and an important area of support.
XRP has historically tend to bounce from this region – to the market test which tends to behave repeatedly. For the moment, this area is likely to act as a stamp for the token.
Chain activity also begins to resume. Supporters are particularly focused on June 16, a date which has become synonymous with possible resolutions in the Ripple vs dry saga. A number of people seem to believe that a favorable result could serve as a very strong catalyst for the next XRP decision.
XRP price prediction: What is the next step?
From a technical point of view, XRP tries to recover from a key support area in the fork of $ 2.10 and $ 2.25. Immediate resistance levels are marked at $ 2.34 and $ 2.44, with higher resistance almost $ 2.60. Other traders are looking for a possible double background motif forming on the graphics, which would be an optimistic reason if it was confirmed in the
On shorter times, in particular the 8 -hour table, XRP shows signs of raised divergence. Although the price has slipped, momentum indicators like the RSI are quietly upwards, suggesting a possible short -term price rebound.
However, a joker could make things happen – the next American CPI inflation data set to publish in the coming 24 hours. Depending on how these figures land, the feeling of the short -term market through crypto, including XRP, could change quickly.
