Ripple (XRP) Poised for More Upside, Analyst Says This Level Is the Time To Be a Buyer

The price of XRP has seen bullish momentum in recent weeks, according to crypto trader Michaël van de Poppe, surging from lows around $0.45 up to local highs around $0.93 before pulling back to consolidate gains.

In a recent tweet, van de Poppe noted that XRP’s correction from $0.93 back down to the $0.45 level allowed the market to reset after its powerful run-up.

Now trading around $0.65, he suggests any further dips back toward $0.54 could offer an attractive area for bulls to re-enter. 

XRP has rallied strongly so far in 2023 after a brutal bear market in 2022 saw it drop below $0.30. With positive momentum returning to the market, technical analysts are eyeing a retest of 2022 resistance around $0.93 and then $1.00 in the near term if XRP can build on its recent gains.

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However, XRP will need to hold above support at $0.54 to maintain its bullish market structure. Otherwise, a deeper correction towards $0.45 could be in store before bulls try again to break out to new highs. But for now, the technical picture remains constructive for additional upside.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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