XRP Targets the Trading Price of $6 – Price Retests at $.1.27
California, USA – XRP consolidated under the resistance level, which is at $1.27. If it stops over $1.27, the price is probable to go to $1.70. Also, some analysts think this crypto can reach $6.
The price railed after it went into a lower zone on August 31. On the other hand, the upswing didn’t have ample time to break a crucial barrier. As XRP remains to consolidate under the price barrier, it might experience a massive rally.
The price of XRP boosted by 21% between August 31 and September 3. It retests at the trading price of $1.27, which is under the resistance barrier. On the other hand, in the last 48 hours, Ripple didn’t cross the key hurdle, keeping this crypto from gaining.
On the daily candlestick, it closes over $1.27, confirming a breakout. It pushes the remittance altcoin by 27%, tagging the upper limit of the value’s gap. If the purchasing pressure endures, the price might boost to $1.70. It indicates a 35%-boost from the current position. However, if it fails to break at $1.27, it will result in a weak buying pressure. It might start a sell-off, pushing this crypto to retest the price at $1.09. If this crypto had a lower price under $1.09, it would invalidate the strong theses, increasing the chances of a sell-off.
This crypto has been brawling after experiencing a rally. Now, it trades at $1.20, but the market targets $1.35, followed by the price of $2.44. It might even bounce to $6.39.
On another note, the ongoing case of Ripple and SEC or Securities and Exchange Commission affected the performance of the price of XRP. Both parties have been filing motions regarding the case, leading the fight into a tie.
On the bright side, the battle of Ripple against SEC did something good in the price’s performance as it boosted up to $1, and even more.