Title: Is it Bearish or Bullish: How the Month of May Looks Like for XRP
Ripple has undeniably shaken the world of its traders and holders since 2022 began. As of writing, there is not much to conclude yet when it comes to its performance as it continues to be unpredictable. Before we dive into what May looks like for the XRP, let us backtrack to see how it started performing at the beginning of this year.
In February of this year, Ripple reached its lowest peak, trading at around $0.62, with support levels appearing vulnerable. Experts and analysts have assumed that it was the landslide of Ripple, but then it took a U-turn when it signalled a bullish uptrend, which was seen in its performance from March until mid-April.
It was able to bounce back, and surprisingly, on March 28th, it had a strong end of the month as it traded at around $0.91. This performance made investors and holders happy and hopeful about the future of Ripple. However, come April 11th, it went south to just a bit above $0.68 and made a comeback five days after when it traded at around $0.80.
It was the second-highest peak that the XRP reached this year, but holders and investors are still crossing their fingers and locking their hopes on it reaching $1. Unfortunately, XRP struggled to keep the momentum as bears and bulls continued to pull the price in different directions.
Ripple is trading at around $0.64, and analysts are assuming that the price will continue to swing down.
Predictions for May hold both negative and positive outlooks. If you’re going to analyze the charts, you might think it will be another rough month for XRP. But if you analyze how investors and holders who want to remain bullish react when this sort of thing happens, you might join them in locking the $1 value.