Ripple to surge 50% due to new partnership
XRP has been bullish in the past couple of days, breaking into $0.40 to hit $0.47 after surging by 5.7 percent in the last 24 hours.
The asset has hit a "resistance confluence of one multi-year falling trendline resistance, a flipped support bar, and a Fibonacci line — all rotating about $0.57."
According to the researchers, XRP might easily break over this confluence if Ripple wins its legal action against the US Securities and Exchange Commission.
When this happens, the price might rise to $0.72, a 50% increase from its October level.
A retreat, on the other hand, may be odd, with the price crashing down to its prior support level of $0.31. This is a 35% decrease from the current pricing.
According to independent market expert DonAlt, a defeat for Ripple would threaten the whole crypto industry.
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