XRP Price Prediction: Ripple clears one of two hurdles, primed for 25% advance


  • XRP price recently flipped a supply zone into a demand area that extends from $1.340 to $1.477.
  • An 11% surge followed by a decisive close above $1.65 will add more strength to the bullish thesis.
  • A breakdown of $1.312 will spell trouble for Ripple and might invalidate it.

XRP price is showing a bullish bias after its recent upswing that cleared a crucial level. Another stiff resistance level stands between Ripple and its move to new yearly highs.

XRP price coiling up for a blast off

XRP price sliced through a resistance barrier that stretches from $1.340 to $1.477, flipping it into a support level. This move comes as the entire market, including Bitcoin, is starting to surge higher after the recent mishaps.

While the first major trouble area has been cleared, XRP price needs to shatter the supply level at $1.653 to seal its bullish fate. If such a move were to happen, the SuperTrend indicator would flash a buy signal, suggesting a shift in trend from bearish to bullish.

Additionally, this move would provide the buyers with clear skies up to $1.888, a 14% surge from $1.65 or a 25% bull rally from the current price ($1.508).

After testing $1.888, if the bullish momentum persists and the overall market structure remains bullish or neutral, investors could see the remittance token rally to new yearly highs at $1.98 or even $2.

XRP/USDT 6-hour chart

XRP/USDT 6-hour chart

While the bullish thesis is straightforward, a breakdown of the flipped demand zone's lower boundary at $1.340 would jeopardize the upswing.

However, a potential spike in selling pressure that produces a decisive 6-hour candlestick close below $1.312 will invalidate the optimistic scenario detailed above.

In such a case, market participants can expect XRP price to slide 8.5% lower to the recent swing low at $1.2.

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

Crypto bulls unfazed by flash crash

Bitcoin price action initially shakes off strong selling pressure, finds buyers at support, then resumes some selling pressure. Ethereum price action mixed post-all-time high rejection. XRP price awaits its own bullish breakout and an opportunity to outperform its peers.

More Cryptocurrencies News

MATIC price ready for new all-time highs as $188 million flow into Polygon

The total number of transactions on Polygon network dropped nearly 15% due to a rise in transaction fees over the past week. This hasn’t negatively impacted the network as the number of unique daily active users remained stable. 

More MATIC News

AVAX price offers a bullish opportunity before Avalanche hits new all-time highs

Avalanche (AVAX) price has seen a bullish outbreak on Thursday after it broke out above – and then retested – the red descending trend line at $61.62. With even more buyers and bulls coming in, expect a run towards new all-time highs at $81.

More AVAX News

XLM price building base for bullish breakout

Stellar bulls are in the last phase of completing a bullish triangle. As XLM price is getting squeezed against the base ($0.40), expect a quick breakout of 12%. After taking a breather, expect another 10% of profits to follow. 

More Stellar News

BEST CRYPTO BROKERS/EXCHANGES




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

BTC

ETH

XRP