With the cryptocurrency market going through a turbulent period this year, digital assets such as Ripple’s cross-border settlement token, XRP, has shown both unpredictable highs & lows. Recently, the price of XRP has been met with resistance at key places as the asset continues to be influenced by a variety of variables, ranging from legal considerations to the general tone of the market.

According to crypto analyst Michael van de Poppe, the XRP token has run into significant resistance at the level of $0.37. He also mentioned that based on the recent price movement, the preferred option is to see the token reclaim the $0.343 level relatively quickly. He expressed these thoughts in a tweet on December 30.

If the price however does not recover, Michael believes that there is likely a considerable amount of liquidity on the downside that might be taken advantage of. He also drew parallels between the current state of XRP and the recent performance of Bitcoin (BTC).

(By Pratik Bhuyan)