XRP has shown a lot of potential after the price of an important trend line had been bounced and has now been able to change earlier resistance levels in support. Since the cryptomarkt looks like an upward trend, it is likely that the XRP price one Continuation of the current bullish trend that starts the new week. If this happens, crypto analyst Lingrid sees such a movement that goes back to the digital activum to his all time high levels before the next major decline.
XRP price in a perfect position for continuation
In the analysisLingri points out that the XRP price now holds support at a remarkable level, which is higher than $ 3. This is after a crash below this level, because Bears had defeated the price. However, because the rising trend line had moved, the cryptocurrency could break above, and this meant that it was a signal for a possible continuation.
The analyst initially predicted a decline under $ 3.2, but the emphasis was on the fact that the support of $ 3.15 after the rebound could retain. This level now becomes the level to view, especially if the structure can remain intact here.
In the case of a bouncy of the support of $ 3.15 and an outbreak, Lingrid expects a sharp Upward movement for the XRP price. The buy zone here is placed on the levels of $ 3.1- $ 3.2, with a break above $ 3.4 as the confirmation of the buy trigger.
As soon as the move is underway, a movement of 20% is expected to send the price to $ 3.8. Here is the next major resistance for XRP once the break is completed. “A breakout above 3.4000 can open the road for accelerated upward movement. Trend Bias remains Bullish, while the price contains itself above the most important support,” explained Lingrid.
Bears can still take control
As is the case with every analysis, there is the possibility of an invalidity and that the XRP price would go the opposite direction. In this scenario it is if there is another break below $ 3, which would serve if the invalid movement will give Bears back in control.
Lingrid explains that such a breakdown would shift the trend to Bearish. There is also the possibility to bring about a limited benefit through a weakening of the market. Even in the event that the XRP Altcoin does Complete the bullish Up to $ 3.8, the crypto analyst says that the resistance near $ 3.8 could also cause a sharp rejection.