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Huge long liquidations ignited notable trend reversal among most of the crypto assets in the crypto space. No Sooner than Bitcoin price slides more than 11% within a couple of hours, many altcoins followed a similar trend. The XRP price also drowned nearly 14% sliding from $1.18 to $1.04. Interestingly, Ripple’s XRP price initiated a slight recovery and heading to regain its lost positions above $1.1.

Many assumed the bears could have outpowered the rally and assets could cement to lower levels. Yet no sooner the price dropped significantly, the traders visualized the ‘buy the dip’ opportunity and bragged in. Hence the price currently has initiated with a notable flip and regain their respective lost levels shortly. 

Also Read: Why Bitcoin(BTC) Price Is Dropping? This Is How It May Reach $90K In A Month!

ripplechart
Source: Tradingview

The XRP price maintained a substantial uptrend ever since it flipped the bearish divergence at the end of August 2021. Despite a couple of huge sell-offs, the asset sustained the trend line yet also failed to break above the upper resistance levels too. But, the price movement is pretty ascending and hence it may test the resistance zone slowly yet steadily. 

Woefully, if the XRP price follows a similar strategy, then it is pretty difficult for the asset to break through $1.5 in 2021. However, the huge leg up may break the resistance levels as it undergoes after each dip. And in such a case, the asset may achieve these levels in the next fortnight. 

Also Read: Ethereum Hits By Tsunami Of Liquidations! Yet ETH Price Eyes At 20% Upswing!

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.



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