XRP's latest rally pushed it above key resistance levels. Can the popular altcoin hold these levels though? Well, that depends on...
Ripple’s partnership with the DIFC Innovation Hub could boost its adoptiongrabbed a lot of market attention recently after it climbed by 10% on the price charts in the last 24 hours. After spending a lot of time heading south, could this surge be a sign of changing market sentiment. Will this momentum last?
Here, it’s worth pointing out that XRP seemed to be heading towards important resistance levels at $0.6487 and $0.7262, respectively.Ripple’s collaboration with the Dubai International Financial Centre Innovation Hub has made ripples.is aimed at fostering financial innovation within the Middle East. Being one of the key world financial epicenters, if Ripple integrates into this ecosystem significantly, it might boost XRP adoption.
This, after XRP dipped below $0.55 a while back and liquidated a number of positions, leading to a temporary pullback. However, it has since stabilized around thin liquidity areas near 50, suggesting that buyers could be accumulating XRP at this level. This might signal a third phase if it can sustained overcoming the strong rejection point at $0.5657.will witness a short squeeze.This will, in turn, lead to further hikes in price following the rush to cover the positions left.What’s next for XRP?
XRP’s recent price action and its partnership with DIFC may sustain this bull run. XRP’s ability to overcome these resistance levels will determine what happens next, as observed by the market. The coming days are crucial in establishing whether this rally is sustainable or not.
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