|

XRP Price Prediction: Ripple bulls delay an inevitable retest of $0.60

  • XRP price has flipped a crucial hurdle at $0.40, hinting at a bullish development.
  • Due to the lack of momentum, the upswing to $0.448, $0.506 and $0.609 is delayed.
  • A daily candlestick close below $0.316 will invalidate the bullish thesis for Ripple.

XRP price shows a clear sign of exhaustion after overcoming the selling pressure and flipping a significant resistance level into a support floor. Adding credence to the current scenario is Bitcoin’s lack of volatility, which has caused most altcoins to come to a standstill. However, the remittance token does show promise of an explosive move should the buying pressure spike.

XRP price awaits capital inflow

XRP price overcame the sellers at the $0.400 resistance level and flipped into a foothold for the second time over the last week. However, this development consumed bullish momentum, leaving little buying pressure for the further run-up. Adding downward pressure is also the lack of volatility from Bitcoin.

However, starting a fresh week in a few hours could kick-start a run-up for both Bitcoin and XRP price. In this case, investors can expect the remittance token price to continue the uptrend and revisit the $0.448 and $0.506 hurdles. 

Once the buy-stop liquidity above these levels is collected, market makers can decide to flip and convert these hurdles into a support floor. If successful, it could allow for a continuation of the rally and tag the next crucial hurdle at $0.609.

This move would constitute a 54% upswing for XRP holders.

XRP/USDT 1-day chart

XRP/USDT 1-day chart

While things are looking up for the XRP price, a spike in selling pressure that breaks down the $0.400 support level will signal weak bulls. If this move is followed by a four-hour candlestick close below the $0.316 foothold, the bullish thesis will face invalidation, leading to a correction in XRP price to $0.288.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

Bitcoin steadies at $82,000: The five forces crushing the Uptober rally

Crypto markets have remained under pressure so far in October, with Bitcoin sliding below $80,000 earlier this week before recovering to around $82,000 on Friday, as macroeconomic headwinds and cooling demand weigh on the market.

Ripple bulls build new support base amid RLUSD payments expansion

Ripple ticks up for the second day in a row on Friday, trading at $1.34. The remittance token holds above medium-term structural support; however, strong supply near $1.40 caps upside. A break above this area would reinforce the bullish grip.

Busy week for Ripple’s RLUSD: What changes for stablecoin holders?

Ripple’s RLUSD is gaining ground across institutional finance, with a major bank launching custody services, a new wallet integration making it easier for developers to build payments and agentic experiences on the network, and a brokerage platform planning to use the stablecoin for settlement.

Bitcoin Weekly Forecast: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin extends its correction this week, trading below $82,500 on Friday, as selling pressure continues. Hotter-than-expected US CPI and PPI data point to broader inflation pressures and persistent geopolitical uncertainty, weighing on risk sentiment.

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains
Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.