XRP Price Prediction: XRP Looks to Have Hit a Strong Bottom on April 7

XRP looks like it hit a strong bottom on April 7. After that, the price jumped up in a way that shows strength.

Rising above a key price level, and with an indicator suggesting a potential pullback, is cryptocurrency, XRP.

The cryptocurrency looks like it hit a strong bottom on April 7. After that, the price has been able to rise in a way that shows strength.

The price was able to bounce higher after testing lows around $2.07, and then it started increasing again with more energy. Now, XRP is moving toward some key levels at $2.35 and $2.42. These are important price points from the past.

After the rally, XRP pulled back and moved lower. However, this small decrease is part of normal and healthy price action. On June 5, XRP hit an important trendline and bounced back from it.

This bounce happened exactly at the point where it was needed, which is a positive sign for the next move.

What Does It Need Now To Continue Higher?

The price of XRP is now trading above the $2.10 level. This price point acts like a crucial level of support for the cryptocurrency.

As long as the price manages to stay above this floor and doesn’t break through it, the technical outlook for the next move appears to be quite bullish.

If this level of support is breached, XRP could continue to fall to test lower prices at $1.95 or $1.79 before starting to rise again. But so far, XRP is holding strong and still shows signs of strength.

The ‘Liquidity Dance’ Could Give A Final Clue

One interesting indicator that could be useful for spotting the next move is the Liquidity Dance. This indicator is plotted in a small panel internal to the main chart window.

Usually, when this indicator makes a sharp spike upwards, it signals that a pullback in the price is about to follow. Conversely, when this indicator starts decreasing again, it often precedes an upward move in the price.

In the present case, the indicator isn’s moving up or down rapidly. Instead, it's in a phase of remaining nearly still, which could indicate that XRP is getting ready for a significant move.

If this indicator begins decreasing from its present level, it could be the final indication that a large move in the price is forthcoming.

Could A Major Breakout Be Around The Corner?

In the short term, the signs of a reversal in the price trend of XRP are not yet immediately apparent. However, all the technical indicators are aligning to suggest that a larger move could be unfolding soon.

The bounce that occurred in April from the lows is a strong one, and if the chart structure remains supportive and the technical clues fall into place, then we could see XRP launching into a major breakout in the very near future.