bullish

Bitcoin

The crypto markets are consolidating! The Bitcoin price that surged above $66,000 is currently trading around $65,500. This move has instigated strong bullish momentum as the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a>, which failed to breach above $0.6, is about to validate a move above the range. However, the price has always failed to breach the resistance and hence another rejection may flash bearish indicators for the rally.&nbsp;   
The XRP price was consolidating below $0.6 ever since the price rebounded from the lows of around $0.52 during the first fortnight of the month. Nevertheless, the token has triggered a strong rise above the crucial resistance zone between $0.5933 and $0.5975 and again tested the interim target at $0.6106. With this, the bears seem to have become active, and the price fails to breach above the descending resistance.&nbsp;   
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 <img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcs5kv8qwMVMpv96lJWfgYtgHSUYgyqkcgA13DgWEuGmfZVl3oXDygrBOc7SKUtm8hnqWZQgFIW9ocazuhWP2J90Y7oAu_Mjehld7wSgd_SlTv1J7Y5eh7eun1QehlnjorK1UqY1q8gorUZCOP-KEQM8yOf?key=vYrTBSgEuuu-owVdOG7BtA" alt="">
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The supertrend has flashed a bullish signal for the first time this month as the price is attempting to break above the range. On the other hand, the +Di has triggered a rebound before undergoing a bearish crossover against -Di, suggesting the Bulls have reclaimed their dominance. However, the volume remains consolidated within a range, indicating the volume is heading towards extreme compression.&nbsp;   
Besides, the upcoming weeks could be extremely bullish as multiple events are lined up. Firstly, Grayscale’s XRP Trust is now live,&nbsp; while XRP ETF also appears to be a ‘real possibility’. Besides, the deadline for an appeal is also fast approaching in the Ripple vs SEC lawsuit, which may offer a strong boost to the stagnant XRP price. These could be the possible reasons to be bullish on XRP, while the possibility of a pullback could also make some room.&nbsp;

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