Xrp Could Rally Up To 20 Under Fresh Bullish Momentum

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Xrp Could Rally Up To 20 Under Fresh Bullish Momentum

XRP Could Rally Up To 20% Under Fresh Bullish Momentum

The technical chart of XRP has revealed a bullish signal which, if it turns out to be true, will add a 20% rally to the current price of XRP. However, a general bullish momentum in the big crypto tokens will be required in addition to bullish sentiment in the XRP to make it happen. If both of these conditions are present, it will help the XRP bulls to reveal their true intentions!

An Explosive Bullish Move In Ripple

After ending the 74% rally, the Ripple (XRP) has been using the zone around $0.381 - $0.433 to find support and to get new buy orders from the XRP traders. After the retracement, this demand zone became more significant and recently provided a 19% bounce as well.

However, the market conditions soon made the XRP trend reverse its course after making a $0.508 top - So far, it has retreated 14% from its high and was last seen around the low of $0.437.

However, this price action has revealed a rather bullish outlook for the XRP traders - Considering the bullish momentum in the Bitcoin (BTC), it makes sense to think that XRP could make some serious moves as well.

However, a lot of that will depend on the market sentiment of BTC, ETH, and other big-name tokens. If the general market trend in crypto turns bearish, then there will be very little sign of this bullish structure in the XRP.

On the legal front, trouble is still brewing for the Ripple (XRP) and while we take into account the technical bullish readings, let's not forget about the fundamentals as well. If the legal trouble of XRP goes away, it could help relieve some of the bearish pressure and could even help the company get more partnerships from the bank.

XRP has a unique use-case scenario and is already used as a remittance token by many banks. And once the company's legal troubles are over, it could gain more adoption by the banking community!

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