XRP price shows signs of a potential 30% advance after going through a short-lived correction. The behavior of different whales since the beginning of the year supports the bullish scenario. XRP is trading at $0.30 after getting rejected from the upper boundary of an ascending parallel channel where its price has been contained since late December. Despite the recent downswing, the cross-border remittances token seems poised to reverse and break out of this technical pattern. XRP price prepares for a comeback Ripple price dropped almost 15% after hitting a roadblock from the ascending channel’s upper trendline. The downswing seems to have been anticipated by the TD Sequential indicator, which flashed a sell signal as XRP approached the overhead resistance. Now, the medium and long-length EMAs could provide enough support to slow down the downward pressure and trigger a rebound. XRP/USD 4-hour chart If XRP price closes above the channel’s middle-line, sidelined investors may re-enter the market and push the token towards the $0.38 resistance level. Santiment’s holder distribution chart adds credence to this thesis as it shows that XRP whales have been accumulating since late December. Indeed, the number of addresses on the network with 10,000 to 1,000,000 XRP started rising since then, while those with more than 1,000,000 tokens began to catch up on January 1. A further spike in buying pressure from these high net worth individuals could be significant enough to allow XRP price to recover. XRP Holder Distribution chart Nonetheless, the bearish scenario cannot be ignored due to the uncertainty around XRP. If prices were to close below $0.26, all the positive signs previously mentioned would be jeopardized. Under such circumstances, XRP price could suffer a 30% correction that sends it back below the $0.20 mark. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Gold Price Analysis: XAU/USD trades near $1,890 after slumping to fresh weekly lows FX Street 1 year XRP price shows signs of a potential 30% advance after going through a short-lived correction. The behavior of different whales since the beginning of the year supports the bullish scenario. XRP is trading at $0.30 after getting rejected from the upper boundary of an ascending parallel channel where its price has been contained since late December. Despite the recent downswing, the cross-border remittances token seems poised to reverse and break out of this technical pattern. XRP price prepares for a comeback Ripple price dropped almost 15% after hitting a roadblock from the ascending channel’s upper trendline. The downswing seems to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.