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Abstract：XRP price is pouring gasoline onto its' FOMO flame as the price is hovering above the broken daily trend channel at $0.89. Investors appear to be coming back into the market with more optimism.
XRP price has breached the parallel channel for the 4th time
Ripple price volume is turning in favor of the bulls
A break below $0.78
XRP price may be hinting at a bullish breakout
XRP price is now the center of the crypto world's attention as the bulls have breached past a breakout level and the weekly parallel trend channel. This scenario is super bullish for the remittance token as the fourth touch of a trendline is often referred to as the catalyst before a rally.
With the XRP price resting just above the upper trend line at $0.89, the international remittance token looks poised to make an impulsive statement.
Ripple price does not seem to worry the bulls, as the token has been troubled with SEC allegations since early 2021. XRP price may breach the $1 zone soon. Psychological whole numbers coupled with an upcoming Fed decision on XRP spells a scenario for massive hype and FOMO.
XRP price volume also suggests there may be an exchange of hands from sellers to buyers as there is a slight uptick in a recent volume on the 9-hour chart.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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