Despite a favorable ruling as a non-security token, XRP had experienced a correction for over a week and a half, losing bullish momentum after reaching a yearly high of $0.94. It is trading above the $0.70 mark, with the $0.66 level acting as a support. Related Reading: Stanford MBA Explains Why Next Bitcoin Cycle Could Be “Bigger” Over the past 24 hours, XRP has exhibited sideways trading yet shows potential signs of price appreciation. The technical analysis indicates a leaning toward bullish sentiment, with positive buying strength, demand, and accumulation. Even though the emergence of a pattern suggesting further bullishness is possible, it remains critical for XRP to maintain support at $0.66 and $0.56 levels. Additionally, breaking through critical resistance levels is essential for the bulls to retain market control. Encouragingly, the altcoin’s market capitalization has increased, signaling a positive development for the altcoin. XRP Price Analysis: One-Day Chart When writing, the altcoin XRP was trading at $0.71. The XRP price chart shows the formation of a bullish reversal pattern known as a cup and handle. Despite this positive pattern, the coin’s ..
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