Bitcoin is lingering around the $44,000 mark, with significant volatility expected by Wednesday evening, signaling the onset of a period that could shape the course of 2024. Meanwhile, XRP Coin is currently priced at $0.569, having felt the impact of heavy selling this week, dipping to $0.5 but rebounding above a major support at $0.5335.
The coin had previously reclaimed this region and tested the $0.7151 resistance. If it maintains closes above this level, it could aim for the main resistance at $0.82, having crossed the descending resistance line from July.
However, the current uptrend seems to be under bearish control, with potential ETF rejections or different FUDs possibly pushing the price down to the bottom support at $0.31. XRP has breached its rising trend support line, which it had maintained since the beginning of 2023 and previously in July of last year, indicating the possibility of new lows at higher levels if the $0.5343 support holds.
If the trend support line is reclaimed, the market could witness new bull peaks between $1.39 and $2.78. Nevertheless, the probability of a new all-time high (ATH) seems challenging due to increased circulating supply and the proliferation of alternative altcoins.
Technical analysis suggests a pause in the uptrend, with key support holding for now. However, the coming months may not be smooth for Ripple, as the SEC prepares for mass appeals, which could pressure XRP Coin prices. Investors may remain cautious until the appeal process becomes clearer.