Ripple (XRP) presents itself as a crypto powerhouse; Will the price reach $1?
- The XRP price shows the market how to handle the show as the price remains bullish with good volume and strength.
- XRP is trading above the support as the price aims to continue its trend move as the price continues to hold above the 8- and 20-day EMA.
- XRP price is eyeing a rally to $1 as key resistance has turned into support with more buy orders.
Ripple (XRP) price continued to show strength as a price trend with a key breakout of a downtrend range against tether (USDT). With the crypto market cap rebounding from its weekly low as the market continued to look promising, the price of Ripple (XRP) was not left out as the price broke out of its long range with a price trend. at a higher height with eyes fixed for a possible goal of $1. (Data from Binance)
Ripple (XRP) price analysis on the weekly chart
The crypto market was relieved, as most crypto-altcoins expected. However, despite the recent price surge of most crypto assets, some altcoins have remained limited.
One project that has kept its price up in recent days is XRP. After the announcement of the court order ruling in favor of Ripple (XRP) victory, the case has been very well received by XRP, a price trend week after week as the price targets $1.
XRP price saw its price rejected at a weekly low of $0.3 as the court order came at the right time; the price moved from this low to a high of $0.53, creating a more bullish scenario. If XRP maintains its bullish pattern with strong volume, we could see a rally in price to $1.
Weekly resistance for XRP price – $0.6 to $0.8.
Weekly support for XRP price – $0.3.
XRP Price Analysis on the Daily Chart (1D)
On the daily time frame, XRP price continues to show strength as it pulls gains despite the market appearing to have stagnated in price movement; after hitting a daily low of $0.44, XRP price hit a high of $0.5 before being thrown back into a ascending triangle as it struggled to break out with prices breaking out and looking more bullish for a rally.
The breakout of XRP price signals more bullish trends to a high of $0.6 and a possible rally to $1. XRP price holding an 8- and 20-day exponential moving average (EMA) is a good sign for price growth.
The prices at $0.50 and $0.4 correspond to the 8- and 20-day EMA values.
The Relative Strength Index (RSI) for XRP shows an increase in buy orders as the value is above the 50 points per day zone.
Daily resistance for XRP price – $0.6 to $0.8.
Daily XRP price support – $0.45.
Featured Image From Finbold, Charts From Tradingview
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