Krutika Adani
After a steep fall from $0.5, XRP has consolidated near $0.42.
The decline came after the SEC returned to its $2 billion fine after offering a $103 million settlement offer Ripple rejected.
As per analyst Michael from Elliott Wave Pro, XRP’s price has reached accumulation levels and might rise soon.
As per the indicator, from $0.42 to $0.45, XRP could rise an Elliott recovery wave that could take XRP to $0.5.
If the price of XRP crosses the resistance of $0.5, it could again reach the level of $0.65. On the downside, a breakdown below $0.4 could cause XRP to fall up to 10% more.