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Ripple XRP Bulls Wrestle for Control, $0.80 Mark Is in Sight

Gaurav Roy by Gaurav Roy
February 27, 2022
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Ripple XRP price continues to recover after the massive sell-off on Monday. Bulls and buyers are looking to extend this bounce for another day. Now, the digital token is poised to pass the next resistance level, which threatens to dampen the recent rally. 

On Monday, Ripple XRP price collapsed below three major support levels. It fellow below the Kijun-Sen, Tenkan-Sen, and the Ichimoku Cloud. The most significant of which was its fall below the most substantial level of the Ichimoku system.

Ripple XRP Bulls Wrestle for Control, $0.80 Mark Is in Sight
XRP is pushing for recovery with the help of bulls

However, the bulls are trying to get the control back from bears. The major holders of XRP kept the price above the Senkou Span A despite the crypto market-wide selling pressure. Since then, the coin has been positioned to test the support level it came from in the Ichimoku support zone.

The bullish conviction for the XRP is now being tested. The price of Ripple XRP is approaching a crucial turning point for its buyers. While this rally was impressive, this upswing could quickly stop it if the bulls fail to push the token past the three Ichimoku levels at $0.750 and $0.785 levels.

Ripple XRP Bulls Wrestle for Control, $0.80 Mark Is in Sight
XRP whales return, and they’re here to balance the scales

As it stands, the bulls need to make a consistent daily close at $0.79 to ensure XRP’s recovery. If this happens, Ripple XRP could return above the Ichimoku Cloud. This rally may also become the first true Ideal Bullish Ichimoku Breakout for the XRP since November 4, 2021. The push towards the $1.00 mark will become very likely if the token closes at $0.79 daily.

However, there are still risks. Other than external factors such as the notorious lawsuit and the major concern in the world’s geopolitics today, the XRP’s current volatility is a cause for concern. While it may look like bears have control of the market, the recent rise in XRP bulls and mega whales is balancing the scales. 

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: XRP lawsuitXRP lawsuit updateXRP predictionXRP priceXRP SEC news
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

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The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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