Analysis

The Bulls Need to Defend the $0.73 Price to Make a Run for $1

TOKYO, Japan – All coins in the cryptocurrency market are vulnerable to volatility; however, we have seen strong players in the field, and XRP is surely one of them. Its price continues to change from low to high, but still, it maintains a good sense of equilibrium and stability if it will not go lower than $0.60.

Ripple is still leaning a bit to the bearish side, and bears continue to pull down the price as more and more investors pull out their funds. But buyers and long-term haulers of this coin are looking at its future with a positive outlook.

Once it surpasses the $0.70 resistance barrier, bulls will start to run reign-free again and help the coin set a bullish trend. Buyers expect an upward trend, with XRP’s price rising to anywhere between $0.79 and $0.80.

The Bulls Need to Defend the $0.73 Price to Make a Run for $1
Multiple dollars falling off with the US flag in the background

The French elections are also paving the way for Ripple to gain momentum. Another factor in play why a bullish theory is being drawn out is the weakening of the dollar.

Still, some risk factors are to consider, as Ripple is not immune to any vulnerability and from hitting low. Since equity markets are increasing in losses, the dollar could have more gains, kicking the bulls out of the $0.70 mark. You might be looking at a nosedive to as low as $0.67 this month if this happens.

Ripple needs to hit above the $0.70 benchmark to possibly make it to $1. If this will push through, you can put your hopes on Ripple gaining 15% of its value. The best action to take is to defend and build momentum.

The Bulls Need to Defend the $0.73 Price to Make a Run for $1
Photo of a Ripple (XRP) coin with multiple colour schemes in the background

If you ask if it’s safe to buy XRP now, the answer is yes. You can take advantage of the price right now, making a rally for next week.

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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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