• XRP price shows strength as it bounced off the daily demand zone, extending from $0.700 to $0.752.
  • Investors can expect Ripple to retest the $0.944 resistance barrier, coinciding with the 200-day SMA.
  • A breakdown of the $0.700 support level will invalidate the bullish thesis.

XRP price has witnessed a quick rally as it bounced off a crucial support level. Although the crypto market, in general, shows a bullish outlook, Ripple’s upside potential seems to be capped due to a barrage of resistance barriers.

22% is a massive Rise and well happy

XRP price in an uphill battle

XRP price bounced off the $0.700 to $0.752 demand zone, preventing a steep correction. The resulting upswing has propelled Ripple by 13% to where it currently trades – $0.792. Although there might be a minor retracement, investors can expect the uptrend to continue.