news 
Ripple’s (XRP) Bull Run Can Be Restarted with This: Analyst
Ripple, the third-largest digital asset by market capitalization, has been struggling to break through resistance levels and initiate a bull run. Despite several positive developments, including the end of the SEC lawsuit and new partnerships, XRP has failed to show any significant upward movement.
To better understand what it would take for Ripple’s (XRP) price to surge once again, CryptoPotato spoke with analyst Ali Martinez, who outlined the key factors that need to fall into place.
According to Martinez, for a bull run to restart, XRP needs to break above $3.00, which seems like a distant target at the moment. This would invalidate the current head-and-shoulders pattern and potentially flip the outlook bullish.
However, there is also a critical support level of $2.00 that must hold, or else the price risks dumping towards $1.25. It’s crucial that XRP stays above this threshold to maintain hope for a rebound.
The analyst believes that Ripple’s inability to break through resistance levels can be attributed to several factors, including an overall market stagnation and global economic uncertainty prompted by recent events. There could also be more to the story that remains yet to be unveiled.
As a result of the current price action, trading volumes have decreased, even among whales, who are known for their significant influence on the market. This bears some resemblance to the post-election environment in the US, where XRP saw increased activity and growth.
Despite this recent downturn, Ripple’s partnerships and IPO plans remain as strong as ever.
Source: https://cryptopotato.com/heres-what-can-restart-ripples-xrp-bull-run-analyst/
