Ripple price needs a plan
Ripple price has been on a steady uptrend with higher highs and higher lows since June 2022. Every time XRP revisits the lower trend line, it bounces higher, producing a new swing high. Considering the stale market conditions where only a select few coins are rallying, it is highly unlikely the remittance token kickstarts its rally.
Hence, investors should be wary of opening swing-long positions at the current level of $0.507. Instead, they should expect the following:
XRP price to fully breach the inclining trend line and retest or sweep the $0.468 support level.
While this development is bearish in the short term, traders should watch for a quick recovery above the $0.532 support level and the inclining trend line.
If the above two conditions are met, it will cement the bullish stance for the remittance token. In such a case, investors can expect XRP price to resume its uptrend and tag the immediate resistance level at $0.696.