The XRP price is broken down again after a week of ascending movement launched by the Bitcoin price greater than $ 90,000. This decision has strengthened the management of digital assets greater than $ 2, which continues to serve as a launch point for possible price increases. However, it was not the only bullish development that came out for XRP during this period. A crypto analyst has revealed that the XRP price has now crossed an important level, and the Altcoin should resume its momentum.
The XRP price breaks the magic line
The magic line in question here is an important trend line that has helped to show the trajectory that the XRP price could possibly take from here. This was observed by the Crypto Master Ananda analyst, who went to the TradingView website to share this notable break. In addition to that, Altcoin also shows major trends that suggest that the bullish pressure is always higher than that of bears, at least for the moment.
According to Crypto analyst, it is possible that the XRP price can succumb to a retrace from here, which would be the result of a major decision. However, it is not bad, since the retrace could eventually cause a correction. Indeed, an optimistic continuation is a normal event after a digital asset has confirmed support, explained Master Ananda.
In terms of current movement, the magic line refers to the upper orange trend line, which was obviously broken. For the XRP price to follow the downstream trend, it should have grown below $ 2. But the bulls maintained the support greater than $ 2 and sparked an escape around $ 2.2.
“The trend line has just been broken and XRP moves to the side, consolidating,” said crypto analyst. This consolidation will lead to optimistic continuation. The following movement is lifted. If this is, the graph of the cryptography analyst shows a decision of at least 30% for the XRP price which could put the Altcoin above $ 2.8 and of course $ 3.
Not only do techniques point to bullish continuation, but there are other factors that propel bulls. On the one hand, the announcement that the CME group plans to launch its own XRP product has strengthened community morale. In addition, another market analyst expects the XRP price to really reach $ 100 if it only captures 10% of the SWIFT volume.
Dall.e star image, tradingView.com graphic
Editorial process Because the bitcoinist is centered on the supply of in -depth, precise and impartial content. We confirm strict supply standards, and each page undergoes a diligent review by our team of high -level technology experts and experienced editors. This process guarantees the integrity, relevance and value of our content for our readers.
