Trend analyst ClubCrypto noted that the price of XRP broke the rising wedge and found support at $0.3100 level. MA100 will also cross MA200 in the short term. The analyst also pointed out that this move could also trigger a dump from the Ripple.
Another bearish news for Ripple’s XRP is that the Ripple is set to unlock 1 billion XRP tokens before the Ripple’s annual Swell conference. If bitcoin fails to maintain positive momentum, then also the price of XRP could retract.
According to the analyst, the next support is at $0.2700 area, which represents a good buy opportunity for the investors.