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XRP Price Appears to Be Dead, but a Drastic Move Is Imminent

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Has XRP Price Entered a Correction Phase?

Ripple’s native coin XRP rallied similar to the previous bull run in 2017, with more than 125 percent gain. The XRP price was expected to touch $1 but woefully dropped and currently trending around $0.61 levels.

One of the analysts believes the asset is waiting for a bigger push and might touch $0.75. The price might surge as a result of the Spark token airdrop for XRP holders which is scheduled for 12 December 2020.

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XRP which faced an intense instability from the past couple of days might get consolidated in the coming days with the return of the market-wide momentum.

XRP Price Analysis

Ripple price XRP

The Altcoin seems to have mounted an intense pressure as the volume has dipped drastically. The double-digit 24-hour trading volume has dipped below $10 billion as the price appears to be more or less stagnant.

However, the second wave of purchases needs to be set up and amplified for the XRP bull rally towards $1. At the time of composition, XRP is trading at $0.6184 with a dip of 0.84 percent in its price.

The strong resistance is occurred around $0.63, once these levels are broken, the next levels to be tested are around $0.65 and finally at $0.67. However, the support levels stand firm at $0.59, to which XRP price should not visit in order to continue with the bull run of Ripple’s XRP.

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