The Market makers must select among the two critical liquidity zones for the XRP price. A bullish move that accumulates the buy-stop liquidity is by far the most probable option. In this article, we will be discussing what the future holds for cryptocurrency.
The price of XRP is expected to break out shortly
Since February 12, the price of XRP has formed two higher highs as well as three higher lows. A rising wedge shape is revealed by connecting these swing points with trend lines. By calculating the distance between both the initial swing high and swing low as well as adding it to the breakout point at $0.836, this technical pattern predicts a 9.6% downswing to $0.756.
As a result, investors should expect the XRP price to drop to $0.756, allowing stranded buyers to get in on the action. The subsequent upsurge will be critical in allowing Ripple to break above the $0.866 barrier as well as reach the first liquidity pool above $0.917.
Clearing this region will enable market makers to drive the remittance token to $1 as well as clear the buy-stop liquidity that has accumulated above it. This movement would result in a thirty-five percent increase in the price of XRP, as well as it is most likely where the local top will emerge.
What More is Expected From the Coin?
While the price of XRP is improving, a breach of the $0.756 support level will likely push the transfer token down to $0.679 in an attempt to close the fair value gap (FVG). Ripple tagging the $0.679 barrier before initiating an upswing is an unlikely prospect.
If XRP price closes below $0.679 in a six-hour candlestick, the optimistic thesis will be invalidated, as well as market makers would likely push the altcoin down to $0.546 for sell-stop liquidity.