Analysts Flip Bullish on XRP as It Plunges to Key Support Level

XRP has been hit hard by the recent market-wide selloff, with the cryptocurrency’s price erasing the vast majority of the gains that it has been able to gain over the past several months.

These gains were hard-fought by the cryptocurrency’s investors and came about in the form of a slow grind higher.

The resistance found throughout the lower-$0.30 region proved to be insurmountable, however, and the cryptocurrency was forced into a prolonged consolidation phase within the upper-$0.20 region.

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This trading range was broken below yesterday, as XRP was unable to avoid the headwinds that were created by the massive inflows of selling pressure that dragged Bitcoin to the sub-$10,000 region for a brief moment.

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