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XRP price is currently pushing higher alongside Bitcoin and the rest of the cryptocurrency market

XRP price is currently rising higher along with Bitcoin and the rest of the crypto market. XRP has been struggling to break through the existing resistance between $ 0.3 and $ 0.33, but for now, it looks like the bulls are competing to push it past this critical area.

XRP price action is still extreme

Its next trend may depend primarily on whether Bitcoin can maintain its newly found position above $ 12,000. A failure to it could see it witness a sharp drop back to the $ 11,200 support.

This will likely also give a headwind for XRP and other major altcoins, causing them to spiral downwards in a parallel spiral pattern.

While this is still an actual possibility, XRP’s recent price action has been extremely strong. It looks like its bull run has officially begun, and many technical factors are now working in its favor.

At the time of writing, XRP is trading just over 6% up at its current price of $ 0.319. This marks a noticeable rise from the daily low of $ 0.293 established yesterday morning. This also marks a slight decline from the daily high of $ 0.32 established at the top of the recent breakout.

The price zone between $ 0.3 and $ 0.33 has multiple levels of resistance throughout it, including one at $ 0.32 and one at $ 0.33.

Whether or not XRP can break out of this resistance zone will likely be the main factor that indicates whether it could see a parabolic bullish soon.

Analyst Cold Blooded Shiller stressed that today’s gains were driven by the breakout of bullish low timeframe resistance.

He explained:

Analyst Pentoshi recently pointed to a myriad of different factors that suggest an imminent price surge for XRP.

He said that XRP now marks the official start of the next bull run, with the possibility of regaining the $ 0.3 level and forming a higher high both of which are bullish signs.

Pentoshi said:

“XRP just had its highest weekly close since the market started making a higher high for the first time in 959 days. It reclaimed the .30c level that had acted as resistance in 2017, support in 2018, and now reclaimed. This should be the official start of its bull run.”

xrp-price-is-currently-pushing-higher-alongside-bitcoin-and-the-rest-of-the-cryptocurrency-market

Unless Bitcoin and the rest of the market make a strong gust to pull XRP lower, the coin previously mounted appears to be well-positioned to see some serious gains.

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