Three XRP Price Levels It Has to Conquer For Bull Run Start

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Three XRP Price Levels It Has to Conquer For Bull Run Start

XRP is currently in a critical phase, battling for a right to enter a potential bull run. For this to happen, there are three key price levels that XRP must breach. The journey toward a bull run for XRP appears tough, with significant resistance levels lying in wait.

The first hurdle for XRP is at approximately $0.63, which coincides with the 50-day exponential moving average. The 50 EMA is a widely watched technical indicator that often acts as a resistance or support level. For XRP, this level has been a point of contention, where bulls and bears have battled for dominance. A conclusive break above this level could signal a shift in market sentiment from bearish to bullish.

Three XRP Price Levels It Has to Conquer For Bull Run Start

Ascending beyond the 50 EMA, the next level of resistance stands at around $0.67. This level has previously acted as a strong resistance point and a point of a breakdown. The asset’s inability to maintain momentum past this point has resulted in pullbacks, underscoring the importance of this level for traders. A decisive climb past $0.67 would be a significant show of strength, potentially paving the way for further gains.

The third and perhaps most critical level is at $0.71. This particular price point is where XRP experienced a sharp downturn in November, leading to a considerable loss in value. It represents a psychological barrier and a point of breakdown that XRP must overcome to alter its bearish narrative. Penetrating this level could inject a surge of optimism among investors, potentially triggering a bullish trend.

If XRP manages to conquer these three levels, the likelihood of embarking on a bull run toward the highs of 2023, which hover around $1, becomes increasingly believable. However, despite the technical setups, the catalyst for such a breakthrough appears to be nonexistent at the moment.

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