- XRP price is currently hovering above the $0.464 support level, but the upside is capped due to the $0.561 to $0.596 hurdle.
- A flip of this resistance area into a support floor could kick-start a 52% run-up to $0.900.
- A daily candlestick close below $0.464 will create a lower low and invalidate the bullish thesis for Ripple.
XRP price continues to remain strong relative to other altcoins despite the recent downturn. Regardless, the crypto markets seem to be shifting their bias to favoring bulls, so investors can expect Ripple to continue its ascent.
XRP price ready to make hay
XRP price sliced through the upper limit of the $0.331 to $0.464 range on September 22 and has continued to sustain above it. The most recent retest of this barrier was on October 13, which was followed by a massive surge in buying pressure that has propelled it by 15% so far.
As XRP price hovers around $0.498, Bitcoin price has seen a bullish breakout. If this trend continues, investors can expect a further spike in buying pressure for the remittance token. This move would allow the altcoin to retest the $0.561 to $0.596 hurdle, which has been a significant level since January 2022.
Therefore, a flip of this hurdle into a support floor will be an important development for XRP price and could propel XRP price up by 52% to sweep the equal highs at $0.914.
XRP/USDT 1-day chart
While things are looking up for XRP price, the ongoing run-up could get rejected at the $0.561 to $0.596 hurdle. However, this rejection could invalidate the bullish thesis if it flips the $0.464 support level into a resistance barrier.
Such a move could open the path for bears to knock XRP price to the midpoint at $0.397.
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