Ripple’s native cryptocurrency XRP price continues to maintain stability around the current level of $0.59, following the recent upsurge in crypto market momentum on the upside. With the local resistance playing out in the existing price, analysts expect a positive outcome for the cryptocurrency going into November 2023.
Analyst CrediBULL Crypto said that the XRP price is going through a logical level of resistance and that this does not mean there could be a huge drop-down if the token fails to breach resistance. Rising on the overall positive momentum in recent days for the crypto market, the token price rose by an impressive 7% over the last week.
Another analyst, Pentoshi had earlier predicted that a breakout above $0.54 could trigger a jump up to the $0.62 to $0.63 range for the token. On November 1, 2023, the token reached as high as $0.61 before making a slight correction.
CrediBULL said that in the current phase of resistance, resistance to breakout to further highs does not necessarily mean a massive drop in price but a consolidation for XRP price. Several altcoins are plagued by the lack of liquidity in the crypto market. An increase in liquidity could mean a breakout to larger highs.