After two years of intense bearish sentiment, it seems that XRP has finally found its goldilocks zone between the $0.247 support a $0.259 resistance level.
Although it seems like XRP has been facing the challenge of overcoming this exchange rate for the past couple of months, it's not necessarily the case. You see, the challenge that XRP has been facing is much worse when we take a better look.
Over the last 24 months, XRP's primary issue was a bearish sentiment that it couldn't possibly shake without some kind of miracle from the market. The summer of 2019 seemed like the miracle that Ripple was expecting, but it didn't turn out to be a reliable thing to lean on as well.
XRP managed to reach the lowest of its low in December 2019 when it fell below $0.2 support and found itself in the midst of $0.183 and $0.184 for the majority of the last couple of months.
Does the New Resistance Bring Hope?
Although XRP's past seems extremely bleak, we need to mention that it's exactly the type of recipe for a massive surge in the making. There is absolutely no way a coin as popular as XRP can continue falling indefinitely. And February 2020 is the proof. According to XRP reviews from InvestingHaven, the coin is well on its way for the ultimate correction this month.
As many XRP experts on Twitter are saying, it's either $0.5 or bust for the coin this year, but there is evidence for even better performance down the line.
The bottom line, however, is that if XRP fails to maintain this very important resistance level of $0.253 then all hope will be gone as bulls will be overtaken be bears and drag the coin down possibly as low as $0.183 once again.