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12 June 2021
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Price Analysis

Ripple (XRP) follows bitcoin (BTC), breaking important resistance levels

Just like bitcoin (BTC), the price of ripple (XRP) started to rise considerably this morning. XRP broke a number of important resistance levels and ended up in a nice uptrend. However, you should pay attention to possible corrections downwards.
At the time of writing, according to CoinMarketCap, ripple (XRP) is worth $ 0.3302 after rising 5.96% in the last 24 hours. In the last few hours, the bitcoin (BTC) went after and broke through the resistance levels at $ 0.3180 and $ 0.3200. On the 30-min graph we can see that XRP also formed a symmetrical triangle pattern in the past period.

Ripple had a strong outbreak this morning. As a result of the strong upward movement, it eventually also broke the resistance level at $ 0.3000. If the bulls manage to maintain this pace, ripple can easily rise to $ 0.3400 or $ 0.3500.

However, a strong correction, or multiple corrections, can also take place, something that is not unusual in situations like this. It is therefore important to keep an eye on the $ 0.3250 and $ 0.3220 price levels. These are the next support levels for XRP.

The most important support is still a bit lower. At $ 0.3180, rather the resistance level, XRP may find strong support in the event that ripple drops again. For now, however, the scenario looks bullish. Ripple remains in a nice uptrend as long as the price continues to trade above that important $ 0.3180 support.
Do you want to read more about the bitcoin (BTC) course? Read the extensive weekly analysis by Crypto Insider David here!

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