Ripple Price Prediction: XRP lethargic price action unchanged as upswing to $0.9 brews

  • Ripple price is struggling to hold above $0.6 ahead of an expected breakout to $0.9.
  • XRP/USD is required to close the day above the 50 SMA on the 4-hour chart to confirm an upswing.

Ripple is being treated to another day in consolidation as more buyers take a backseat, perhaps waiting for a breakout to be confirmed. The cross-border token is holding the ground slightly above $0.6. A massive escape is in the offing, targeting gains beyond $0.9.

Ripple’s breakout to $0.9 in the offing

Volatility is at an extreme low compared to the levels seen at the beginning of December. As discussed yesterday, the Bollinger Bands’ constriction is a signal for a near-term breakout. However, for a breakout eyeing $0.9 and $1 levels, XRP must reclaim the position above the 50 Simple Moving Average.

The 4-hour chart also shows XRP dancing within the confines of a symmetrical triangle pattern. A breakout is estimated to take place before the trendlines converge. This means that XRP/USD breakout could occur anytime in the coming sessions.

For now, the Relative Strength Index adds credibility to the consolidation, as it levels at the midline. Traders can watch out for spikes toward the overbought to ascertain that it is indeed a breakout to the upside.

XRP/USD 4-hour chart

XRP/USD 4-hour chart

It is essential to note that the breakout would be counterproductive if Ripple fails to close the day above $0.6 or dives under the 100 SMA. The downswing could be just as massive as the expected upswing to $0.9. Therefore, XRP will likely refresh lower price levels around $0.3 before recovery comes into play.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Prediction: BTC set to retest $56,000

Bitcoin price is heading lower following a break below a critical support trend line. The leading cryptocurrency is now exposed to a downside target of $56,568. The BTC IOMAP model suggests that the bellwether cryptocurrency is unlikely to drop below $56,000.

More Bitcoin news

Chainlink price faces minor sell-off before resuming uptrend

Chainlink price is witnessing its uptrend retreat following a technical signal that indicates the token has reached its local top. LINK is headed lower to retest critical support levels as the bears target $28.61 next. The token may fall toward the lower boundary of ...

More ChainLink news

SafeMoon price prepares to escape from prevailing downtrend with 60% ascent

SafeMoon has been locked in a downtrend since May 23, with little ambition to reverse the period of sluggish performance. While it's trapped in the prevailing consolidation chart pattern, an escape above $0.00000288 could spell trouble for the bears.

More SafeMoon news

XRP price on the cusp of massive decline if this critical support level fails to hold

XRP price is trapped within a recent downtrend as the momentum has flipped to the downside. Ripple lagged behind while other cryptocurrencies, including Bitcoin and Ethereum, recently witnessed rallies reaching new all-time highs. 

More Ripple news


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast