XRP Price Prediction: Ripple at a make-or-break point between bull flag pattern and several sell signals

  • Ripple price battling at the bull flag upper trendline near $0.58.
  • A 4-hour candlestick close below $0.50 could extend the pullback.
  • However, a close above the supply barrier at $0.56 would suggest a 35% price rally.

XRP price has seen a 90% bull rally since February 2. Following this upswing, Ripple began consolidating, resulting in a bull flag pattern.

XRP price at crossroads

XRP price is forming higher highs and higher lows on the 4-hour chart. Joining these pivot points using a trendline results in a “flag,” and the 90% upswing that precedes this is known as the “flag pole.” 

A four-hour candlestick close above $0.56 would represent the continuation pattern’s end and signal a 35% upswing to $0.75. This target is measured by adding the length of the flag pole to the breakout point.

Since XRP's rejection at $0.58 on February 20, it has been on a downswing and is, at the time of writing, testing the support level at $0.50. If the remittances token manages to slice through this demand barrier, then a 10% drop to $0.45 seems likely.

Adding credence to this bearish outlook are the SuperTrend and the Parabolic SAR indicator, both of which have flashed sell signals on February 15 and 20, respectively.

XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

However, investors need to be aware that a bounce from the channel’s upper trendline is possible. Therefore, a spike in buying pressure leading to a close above the bull flag’s upper trendline at $0.56 could signal a breakout. 

In this case, XRP price could rise as high as $0.75.

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.

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