Possibility of complete breaking of the current resistance

21 thg 1, 2023

XRP has been in a range over the past week, and the 4-hour timeframe candles saw a correction to the $0.366 support area after breaking through the uptrend line support. The strong positive reaction due to the high strength of the buyers caused the previous ceiling to be tested again. The power of yesterday's candle indicates that there is a possibility of a complete breaking of the current resistance. In this case, the higher target we can consider for Ripple will be the $0.50 area. The second resistance overlaps exactly with the ceiling resistance of the descending channel and can cause a negative reaction. This area is a strong supply range; from this level, we expect a price correction to support $0.4089. The main target of medium-term buyers can also be considered in the resistance range of $0.5590.