XRP price needs to break through this important resistance to get bullish again


XRP holders are still battling for the $ 0.30 area, while the majority of cryptocurrency markets are euphoric with Bitcoin (BTC) prices above $ 40,000.

BTC price is currently over 100% higher than its previous all-time high in 2017, while XRP price is still down more than 90% from its all-time high in 2017. An SEC lawsuit against Ripple is certainly not bullish, and it is.The main reason for this general weakness is that it delisted some exchanges.

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However, the chart could offer a potential uptrend in the short term if XRP price breaks through several crucial resistance levels.

The resistance at $ 0.32-0.345 needs to break for more upside potential

XRP / USD 3-day chart. Source: TradingView

The XRP chart shows a very strange price pattern as the XRP price has wonderfully flipped the $ 0.21 area for support in 2020. This support / resistance flip caused a breakout above the significant resistance zone at $ 0.32-0.35. This breakout caused a surge towards the region of $ 0.80, one of the most significant increases in XRP in recent years.

However, the fundamentals came to fruition when the SEC revealed a lawsuit against Ripple that caused the price of XRP to drop in the range.

Now the structure itself has been destroyed and looks quite strange. Regardless of this bizarre step, crucial and beneficial levels can still be determined from here.

The critical level for the bulls is the $ 0.21-0.23 low, which has provided support again in recent weeks.

Yes, the candles fell below $ 0.21 to $ 0.23. However, the candle closings were on top, indicating that support for XRP has been found.

In the lower time periods, the $ 0.295 area is critical

XRP / USD 1 hour chart. Source: TradingView

Traders often zoom in on shorter periods of time to identify critical levels. Based on the higher timeframes, critical levels are defined as support and resistance zones at $ 0.21-0.23 and $ 0.32-0.35, respectively.