XRP Price Analysis: Traders can long Ripple at this level for 20% gain

XRP price shows a clear sign of disappearing volatility, leading to a tight consolidation. Over the next three days, Ripple will likely break down, retesting a critical inflection point and triggering a rally.

XRP price ready to make a move

XRP price has been consolidating above the $0.372 support level, producing a string of lower highs. The setup looks bearish, and investors should expect a breakdown, leading to a quick pullback. 

The downtick, however, will knock the XRP price down to retest the $0.368 to $0.363 area, which has an imbalance and is termed Fair Value Gap (FVG). This area is where interested investors should consider buying Ripple as the chances of a reversal at points of imbalance are high,

A resurgence of buying pressure at this level could trigger a quick run-up for the XRP price. If this move allows the remittance token to flip the $0.40 hurdle, it will likely target the $0.448 resistance level. 

This XRP price move will constitute a 21% upswing and is likely where the upside is capped.

XRP/USDT 4-hour chart

While things are looking up for the XRP price, a breakdown of the $0.349 support level will create a lower low. This development will skew the odds in bears’ favor and invalidate the bullish thesis. In such a case, market participants can expect the XRP price to revisit the $0.316 foothold to regroup and plan its next move.