The XRP cryptocurrency has experienced a pullback in recent days, but market expert MichaelXBT predicts a further drop to a major support level before a rebound to new highs. MichaelXBT points to an ascending channel on the 4-hour XRP chart, indicating that bulls are in control. After retesting the upper trendline of the channel, XRP experienced a price slump and dropped to the lower trendline. Following this retest, XRP has started a recovery campaign. If it continues on this trajectory, it could breach previous resistance levels and potentially reach the 2021 high of $1.96. However, caution is advised as the Relative Strength Index suggests an overbought condition.



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