XRP price may jump by about 40%
Ripple xrp0.03%XRP token rose to $2.1785, up by $20% from its lowest point in November this year. This rebound could be the start of a prolonged rally, as the token has fundamental and technical catalysts.
$XRP price technicals point to more gains
The three-day chart shows that the Ripple price bottomed at the important support at $1.8520. It has resisted moving below this level several times since November last year.
The token has formed a falling wedge pattern whose two lines are about to rebound. Additionally, it recently formed a morning star candlestick and is in the process of forming an inverse head-and-shoulders pattern.
$XRP price has moved above the 50% Fibonacci Retracement level. It has found support at the strong, pivot, and reverse point of the Murrey Math Lines tool.
