Ripple price in recent times has been moving sideways within a very narrow range, facing constant rejections while on its way to $0.4. Most of the altcoins along with Bitcoin, currently, are displaying huge bullish momentum. On the contrary, the XRP price may be subjected to visit the lower support and ignite a bearish trend ahead. However, the current happenings of the Ripple vs SEC case have no impact on the price.
Each time the XRP price headed towards the north, a formation of a bullish flag was expected. However, the consolidation was formed in a descending way to reach the lower support which was followed by a rebound. Therefore, the asset respected the lower support at $0.35 each time being unable to surge beyond 0.38.
Therefore, while the crypto space is expecting a strong breakout from the upward pressure, the XRP price appears to have fallen into a bearish trap.
As seen in the daily chart, the XRP price has been rejected in the past 2 attempts and if the recent rejection compels the price to hit the lower support, the asset may find itself along the neckline of the ‘H&S’ pattern. The pattern signifies the bearish trend approaching fast and hence if the asset fails to hold at the support zone, a revisit to the lower support may be imminent.
While the crypto space is gearing up to display a notable rally(for a short-lived timeframe), the XRP price appears pretty conservative. Therefore, the upcoming couple of hours appears to be extremely crucial for the Ripple(XRP) price, depending upon which, the next price action may be framed.
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Source: https://coinpedia.org/price-analysis/ripple-price-analysis-what-to-expect-the-xrp-price-in-the-next-24-to-48-hours/