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Assessing the odds of a possible XRP breakout towards $1
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The crypto-market has subjected itself to quite a few strong corrections since the beginning of this month. Notably, the one witnessed on 4 December was the deepest. On that day, most large-cap coins saw their market caps registering losses of 20%-30%.
XRP, the market’s eighth-largest crypto, was no exception to the aforementioned correction phase. On the said day, the asset’s price dipped from $0.92 to $0.60. However, over the last couple of days, XRP has successfully managed to stop its downtrend.
It has been consolidating of late, with its price revolving around the 61.8% Fibonacci level.
XRP/USDT || Source: TradingView
On Thursday and Friday, XRP did attempt to break above the aforementioned level, but couldn’t sustain there for long. The
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