What's going on with Ripple (XRP)? Will it take flight?

Ripple (XRP), which lost value as the market retreated, caused concern for its investors. The major coin, which could not fully adapt to the rise of Bitcoin (BTC) and remained weak, rang alarm bells with the decline in the market. So will the bull run begin for XRP? What is the latest situation in the popular coin?

How is Ripple (XRP) progressing on the technical side?

XRP, which entered the correction process after hitting $ 0.7442, dropped by 23.5 percent in just a few days and dropped to $ 0.5690. The popular coin, which turned its direction upward again with the reaction of BTC, is currently traded at $ 0.5916. Current resistance levels that can be followed for XRP are 0.6260 – 0.6686 – 0.7134 and 0.7442 dollars respectively. Support levels are $0.5787 and $0.544-$0.526.

How does XRP stack up against Bitcoin?

XRP has been losing value relative to BTC since July 10, 2023. Ripple, which usually attacks when there is regulatory pressure, has not received this support for a long time. Various regulators, especially SEC, going to war with Ripple again may put XRP on the offensive and bring the XRP/BTC parity to better levels. If the process continues as it is, XRP’s weak stance compared to BTC will continue.

There is not enough interest yet for XRP to rise!

Although the crypto industry is generally doing well, there is not enough demand for XRP yet. Looking at Google Trends, which provides various data on social metrics, although XRP searches have increased from time to time, this development has not been permanent. In particular, there has been a significant decrease in XRP searches in the last 10 days. For a possible bull season in the popular coin, this metric may need to be at least above 75 levels.