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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ripple on track to hit $2 as on-chain metrics reset

XRP price shows a consolidation in play that could lead to a new yearly high. The recent recovery from the dip into the demand zone suggests the presence of strong buyers.

More Ripple News

Chainlink makes new all-time high, targeting $100

Chainlink price made another new all-time high at $52.70, while all eyes were on Ethereum crossing past $4,000. LINK has regained massive bullish momentum in the past few weeks. 

More Chainlink News

SafeMoon price may retrace 25% as bulls fail to establish dominance

SafeMoon price shows a massive rally that pushed it to the recent local top. However, the inability of the buyers to propel it past this crucial level might lead to a pullback.

More Cryptocurrencies News

Dogecoin eyes consolidation after its recent pullback

Dogecoin price is facing a stiff resistance wall that could result in a minor correction. A confluence of on-chain indicators adds credibility to this potential bearish move.

More Dogecoin 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