- XRP’s price has been facing growing selling pressure, which has caused it to lose the momentum that was previously driving it higher
- It now appears to be well-positioned to see further short-term downside, as the cryptocurrency has been struggling to break above its resistance at $0.30
- Despite this short-term weakness, analysts still believe that the token could be poised to see some notable upside in the coming weeks
- One trader is noting that its market structure suggests a sharp move up towards $0.75 is imminent in the near-term
XRP has been experiencing some turbulence throughout the past few days and weeks, with its price attempting to kick off a parabolic rally but being met with significant selling pressure.
This has led it to see stagnating price action, with it now being stuck …