Ripple (XRP) is navigating an uptrend, supported by two ascending trend lines traced since mid-2022. Despite a recent dip near the lower trend line, the outlook could brighten under specific conditions. It’s crucial to tread cautiously at the current $0.507 level, refraining from opening swing-long positions. Instead, anticipate the following scenarios:
- XRP fully breaches the ascending trend line, testing the $0.468 support level.
- Watch for a swift recovery above the $0.532 support and the trend line.
Meeting these conditions could solidify a bullish stance, paving the way for XRP to resume its upward trajectory towards the $0.696 resistance. Conversely, if XRP retests $0.468 but fails to rebound, signaling weakness, and if it turns this level into resistance, the bullish outlook would be invalidated. In such a scenario, XRP might face an 18% downturn, revisiting the $0.379 support.
