On April 19, it looked like XRP (CRYPTO: XRP) was going to make a large move lower. The crypto had formed a reversal pattern on the chart
Sure enough, that’s what happened. In the following week, the price fell by over 30%.
It has since staged a recovery, but it stalled out at $1.40. There is resistance at this level.
Resistance is a large concentration of sellers. They’re all offering their XRP at $1.40. There’s more supply than demand at this level, which is why the rally halted.
If XRP gets through this level, it will mean the sellers have finished their orders. With this supply off of the market, buyers will need to pay higher prices. This could make XRP breakout and result in a significant move upwards.
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