XRP is currently hovering in the key $ 0.30 zone as it tries to prevent buyers from falling below this important support level.
Although this slight decline is not enough to override the macro power of the market, it is beginning to face increasing selling pressure.
Analysts now point out that XRP could still be well positioned to gain massive gains in the coming weeks, as it will soon cross a declining trend line for a year.
One trader points out that a break below this level opens the doors for a rise to $ 0.475. If this level breaks, the analyst believes he can target a move towards $ 1.
As bitcoin begins to drop into the $ 11,000 zone, there is a strong possibility that the cryptocurrency will continue to see further downward pressure.
If XRP loses its support at $ 0.30, its next zone with considerable buying pressure is around $ 0.27. If this level breaks below it can experience free fall until it reaches $ 0.23.
A popular trader explained in a tweet that XRPs will show some slight drawbacks in the short term.
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