The XRP token had recently shown signs of recovery but at the moment, it has started flopping again. Get the full details below.
The XRP Value Faces Great Resistance
Reports had indicated that XRP was going to make a breakthrough but as time went by, the value started sinking again.
The technical indicators show that the token could go to as low as 0.480$. There was a large amount of resistance at the 0.580$ level and the token has gone lower than the 0.560$ level.
Looking at the charts keenly, there was resistance at the 0.550$ level as the token struggled to rise in value. Reports indicate that the next resistance level was at the 0.565$ level.
The new resistance level is at the 0.580$ level. If market conditions prove to be bullish, investors can expect that the value will reach the 0.60$ resistance level.
Possibility Of The Value Dropping Lower
If the token does not succeed in going past the 0.565 resistance level, then bearish conditions will be observed and the price of the token could start sinking again and go as low as 0.500$ level.
The pressure comes after the SEC received a go-ahead to appeal in court after Ripple had been granted a partial victory
Discussion about this post