Ripple: XRP price gains 10% – These are the key levels for a breakout
The XRP price has experienced immense volatility over the past weeks
, due to the breakout of the key level of $0.30 to $0.34 on the one hand, and the strong market dynamics around Bitcoin on the other. As analyst Credible via Twitter noted today, volatility could continue over the next few days.
The Bitcoin price could remain a determining factor. This weakness, according to the analyst, is due to the fact that the XRP price was not able to break through the $0.60 region and proved to be a strong resistance. As a result, Credible Crypto, is warning XRP investors to keep an eye on the BTC price.
After the BTC price recently lost the key level of $18.500, Bitcoin has entered the long-awaited correction. According to Credible Crypto, the downward movement may not be over yet. Regarding Bitcoin, investors should keep an eye on the next support level at $17,000 to $18,000, while a break in resistance at $18,600 to $18,800 could herald an end to the correction. The analyst commented on BTC’s influence:
The recent drop on BTC has derailed XRP, and it looks to me like we are going for the lows unless we quickly reclaim some key levels. Also, I hope this officially lays to rest all the ‘spark airdrop pump’ narratives that have been floating around. Prep to buy the dip.
In a new video update the analyst also addressed the key levels for XRP. Credible Crypto explained the following and shared the chart below:
XRP having hit the bottom of our range, but not having hit these levels lows yet [around $0.46 – $0.48]and you can see that we are pushing up now to the origins of the impulse. This is the same key level for XRP that we have with Bitcoin on $18.8k to $18.6k; [this]is equivalent to this $0,57 to $0,58 region on XRP.