XRP Army Back in Action, Will Ripple Price Gain the Required Momentum to Reach $1?
The crypto markets continue to hover within a bear market as the bullish reversals are not been validated. Moreover, Ripple(XRP) price remained more of less stagnant and traded below $0.4 for quiet a long time. Despite the negative market trends and the ongoing Ripple vs SEC lawsuit, the price appears to be primed to rise high.
The Ripple price was trading within a descending parallel channel, failing to clear through the upper resistance. However, a huge influx of buying volume, assisted the price to clear these levels, while the upswing seems to get intensified very soon.
The XRP price has risen above the bearish pattern and hence a notable upswing may expected ahead. However, until the price tests & clears the immediate resistance at $0.436 and secures levels above the pivotal resistance at $0.5114, the revival of the rally may not be validated.
On the brighter side, the platform has witnessed a huge influx of liquidity is witnessed in the past couple of days as the volume rose from around $1.12 billion to as high as $3.74 billion in just 2 days. Surprisingly, the daily active address have slumped hard while the MVRV ration undertook a bullish divergence.
While the major technicals & indicators point out towards the resuregance of the bullish trend, a significant upswing may be in place that could uplift the price beyond $0.5 very soon. However, the Ripple vs SEC case may continue as the XRP price could remain independent of its trend.Source