Ripple’s price has ranged between $0.704 and $0.778. Meanwhile, HUH Token has broken its downward trend and is now trying to retest resistance levels.
Ripple has started gaining bullish momentum as it revisits its falling trendline and has now formed a symmetrical triangle, forming higher lows, generally an indicator of a trend reversal. If the uptrend continues, the XRP will retest at $0.89.
In a bullish scenario, Ripple could rise above $0.829 and retest $0.939, representing a 13% gain from current levels.
Looking at Ripple’s daily chart shows that the price is well below all of its moving averages and its Stochastics have broken below its lower bands and into the Buy zone, indicating that an increase is likely.
However, traders should proceed with caution as XRP would need to break its resistance hurdle at $0.829 before starting a bullish move. Traders should be especially vigilant as to whether XRP manages to break its 2-month downtrend line, as this would indicate a trend reversal is possible, and a larger rise to retest $1 would then be likely.
While the bullish outlook is reasonable, a spike in selling pressure that pushes Ripple’s price below $0.704 will result in a lower low, nullifying the bullish outlook.
The HUH token has broken its downtrend line, indicating that further sideways move is likely as the token establishes support levels near $0.00006064. If bulls are able to maintain this level, the price will likely rise and retest previous resistance levels at $0.00008000 and $0.00012761. This would result in a 60% increase from current levels.
The HUH Token has seen a 30% rise in value since the start of the new year, breaking the blue downtrendline.
Traders should anticipate continued sideways movement as the price is retested and rebounds from the $0.00006064 support level. The price should then trade between $0.00006064 and the initial resistance level of $0.00008000.
If the token price is able to break above this resistance level, a move higher to the next resistance level at $0.00012761 is likely.
However, if the HUH Token breaks below its support level at $0.00006064, the bullish outlook will be invalidated.
After launching on December 6, 2021, the HUH Token has increased by over 6,000%. It has already been released on PancakeSwap, but will also be available on Uniswap on January 6th, which should benefit the price.
HUH currently has over 15,000 titleholders, with additional listings on the horizon. The creators of HUH announced that hundreds of influencers will start posting about the token on Instagram and Twitter on Jan. 19, which should have a positive influence on the price.
Learn more about the HUH token here:
Web site: https://huh.social
HUH Official Swap- https://swap.huh.social/