XRP price has been a perfect example of explosive volatility as it triggers an exponential run-up. This move is currently cooling off as investors continue to book profits and market conditions improve. As discussed in the previous article, the remittance token has slipped into the demand zone and has shown incredible resilience, suggesting that a new rally might trigger soon.

XRP price pulled off an impressive 20% rally on Thursday, September 29. The sharp increase in profit shows less volume than the previous 70% bull run. This subtle cue suggests XRP could be enticing retail traders to join the next rally prematurely in hopes of aiming for magnet-like confluence levels near $0.60.

XRP price currently auctions at $0.48 as the digital remittance token has increased its market value by 66% this month. A Fibonacci Retracement level surrounding the strongest rally during September shows the “golden pocket” 61.8% retracement level at $0.41. The level remains unvisited since the Ripple bull run broke new highs for September at $0.56. A plunge into that level remains plausible and would result in a 15% decline from the current market value.

The earliest evidence to confirm a bearish idea will be a breach at $0.45. If the bears tag $0.45, the bearish scenario is likely underway. If $0.45 remains untagged throughout the weekend, the bulls could rally towards $0.60, resulting in a 28% increase from the current XRP price.

XRP price has validated the bullish trade idea published at FXStreet just a few days prior. the bulls stepped back into the market in an applaudable fashion.

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Sep 30 2022