Ripple The movements in the (XRP) price have started to show that the bulls are not letting the bears break free and the buying pressure is reviving.
XRP price action is at a rather interesting point right now, with the bulls coming back and showing signs of a waning downtrend. These developments may be happening because of the weekend and there is a possibility that they will be reversed when the new week starts, so investors need to be careful.
Ripple Price Doesn’t Have Enough Momentum
Ripple price has tried to break the $0.381 resistance levels roughly four times in the past two months and failed each time. The latest attempt has swept it past the aforementioned hurdle and garnered liquidity standing above par at $0.38.
But the lack of momentum XRP pricecaused the fall. However, the bulls seem to be having a good fight as the altcoin is trading close to $0.381. If the markets gain positive momentum overall, Ripple could benefit from this move.
In such a scenario, if XRP price manages to turn the $0.381 barrier into a support base, it would signal a bullish buying opportunity. Such a development would most likely move up 17% to $0.439.
While things are risking for Ripple price, a lot of volatility will likely come out over the weekend. Therefore, investors should wait until Monday for a discernible plan.
However, if XRP price dips below the $0.340 support level, traders can wait for a retest of the $0.287 to $0.311 demand zone for a bullish turn.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.