The crypto markets are consolidating! The Bitcoin price is stuck below $30,500! Is XRP’s price also following a descending trend?
Ever since the price triggered a decent upswing from the lows at $0.457, it has displayed acute strength, being self-assured of maintaining a significant upswing. Although the volume remains relatively low, the activity on the platform spiked iconically. XRP user activity has soared for the third time in the past three months, signalling the possibility of triggering the next bullish wave soon.
The XRP active address is again on the rise. The active address count is the number of addresses that interacted with the platform to carry out a trade, regardless of whether it was a buy, sell, or swap trade. The previous couple of times in March and May, when the active address count spiked high, the XRP price also experienced a jump of over 20% to 25%. Presently, when the price is hovering around $0.476, the upcoming bullish wave may lift the price close to $0.58.
The XRP price continues to trade within an ascending triangle and is trying to rebound from the lower support. Besides, the RSI continues to hover along the lower support and has triggered a rebound. Furthermore, the MACD is closer to undergoing a bullish crossover, which may lift the price high in the coming days.
Collectively, the XRP price continues to trade within an ascending triangle for the whole month of July and may reach the apex by the end. Till then, if the Ripple vs SEC lawsuit final lawsuit is produced, then one can expect a healthy upswing beyond $0.6 very soon.
