- Altcoin XRP has been in a bear market for 578 days.
- One single green candle could flip the script.
- XRP could bottom at $0.87 before surging to new highs.
The XRP community remains to be one of the most resilient and unshakably determined communities in the altcoin space. Despite the brutal price dip over the bear market, bringing the price of XRP below the $1 price range, the community continues to be highly optimistic as they know their moment in the sun is not too far away. One expert goes on to highlight how XRP has been in a bear market for 578 days, but reminds us that one single green candle could flip the script.
XRP Has Been in a Bear Market for 578 Days
Over the past few weeks, the XRP community has watched the price of XRP dwindle from the $1.5 price range to finally fall below the $1 price range. According to many this was a bullish move as, much like every other altcoin in the space at this time, XRP too is working towards setting its bear market bottom price and this price seems to many to lie in the $0.87 price range.
According to CoinMarketCap analytics, the price of XRP is currently sitting in the $1 price range exactly, showing that the asset is up by 0.85% over the last 24 hours, but down by over 1.8% and 8.18% over the last 7 days and 30 days respectively. However, despite these deep dips, it seems XRP is still showing strength even as it heads towards setting its bear market bottom price around the $0.87 price range.
One Single Green Candle Could Flip the Script
So far, the price of XRP has only dipped as far as the $0.98 price range, meaning another small dip is still expected to play out before XRP finishes its correction and can finally move towards the long-awaited wave 5 move which can not only bring the price of the promising altcoin asset to its previous ATH price range, but can propel it much further to hit new ATH prices starting from $5.
As we can see from the post above, this expert states that XRP looks quite interesting here with the $0.85 support level holding, and key resistance/support situated at $1.40 – $1.55. He also adds that there is no need to chase the price during the rally and he soon wishes to see a sweep of the lows, leading to a reclaim, and finally a breakout from the descending channel.
If that happens, things could get interesting above $1.40, potentially leading to a bullish rally. In addition, the crypto trader and expert in the post above highlights how XRP has been in a bear market for 579 days, and that it would take just one green candle through the white line highlighted in the image accompanying the post for the trend to flip upwards. Just one breakout, he emphasises, could lead to the next bull market to begin.
