The value of XRP is currently showing a bullish sentiment, in line with the overall market trend, with the goal of reaching the $1 mark and setting a new all-time high.
Analysts, while noting the ongoing upward trend, emphasize the need for a reset before further gains.
In a TradingView post by cryptocurrency analyst “ProSignalsFX” from November 11th, it was highlighted that XRP is rising along an ascending support line, fueling expectations for the continuation of the bullish trend.
The analysis points out that a key factor in this upward trajectory is the retesting of the $0.67 support level. The current upward trend for XRP is supported by the ascending trendline, indicating positive market sentiment. The trendline, seen as a key support, is considered a crucial factor in determining XRP’s overall bullish outlook.
The potential breakthrough of XRP can also be viewed from the perspective of its historical lag behind Bitcoin price movements.
In a pattern identified by “Cryptocurrency Analyzer,” it is suggested that XRP breakthroughs often lead to a gradual stabilization of XRP’s trend. Similar to Bitcoin, XRP has the potential for a breakthrough around the 15th of the month.
As discussions about the valuation of XRP continue, they coincide with the progress of the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC).
Following a courtroom victory over the SEC, Ripple and the regulatory agency have agreed to discuss a settlement within a 90-day period.
Read more: [link to article]
