Since the crisis on November 9, the price of XRP has shown greater lows due to the ongoing inflow of buying pressure. However, the overhead barrier is tenacious and resists giving up to this buying push from Ripple bulls.
The remittance token’s future move will be determined by the flip of this level. Since the June 18 fall, the price of XRP has been circling about $0.288. On September 20, it smashed through the $0.381 barrier, but it was unable to continue.
Additionally, the deteriorating market circumstances and declining demand led to a reversal that drove Ripple down below the $0.381 barrier level.
The local bottom is currently at the $0.288 level from a long-term perspective. There is no need to consider how low the remittance token can go as long as the price of XRP flips $0.381 and remains above it.
The initial goal for bulls is the $0.441 level, which is around 18% above the present position. This obstacle, like the $0.381 one, is challenging to overcome.
A successful reversal of this roadblock, however, will allow the price of XRP to return to the $0.509 level.
Even though the XRP price isn’t doing so well right now, a breach of the $0.288 support level would contradict the bullish argument by causing a lower low. As a result of this event, Ripple might try to regain its $0.253 foothold.
