Price Analysis

What’s Awaited with the Ripple’s Price, Despite Bearish Prediction, XRP Thrives to Hit $1!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Feb 26, 2022

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Highlights

    Ripple price is recovering finely after the recent slash that dragged the price to as low as $0.6233

    While XRP price was expected to hit the lower support, the asset jumped in action by slashing the bearish trend

The entire crypto space was badly impacted by the recent sell-off, recording huge double-digit losses. But XRP price maintained a steady drop with less than 10% plunge which rebounded quickly after a healthy accumulation. Much similar to most of the cryptocurrencies, XRP price also is showcasing a possibility of surging high with huge intensity. And hence the possibilities of the asset hitting $1 appear to be pretty high in the upcoming days. 

The XRP price cleared the immediate resistance at $0.73 in the early trading hours. And currently is aiming at pivotal levels just above $0.8. After a huge prolonged consolidation and chopping around narrow regions, XRP price is now showcasing huge bullish signals. Most of the indicators are in favour of the asset while the chart patterns are also displaying mounting bullish momentum. And with the current pace, XRP price may slice through the major resistance and hit $1 by this weekend. 

Also

While the entered crypto space was deeply impacted by the Russia-Ukraine conflict, the XRP price ignited a notable recovery quickly. Maintaining the same bullish momentum, the asset ranged high to gain more than 25% to hit levels close to $0.8. No doubt the asset is experiencing a slight drain at the moment, yet the mounting buying pressure may assist the price to maintain a strong uptrend. 

However, in the short term, the XRP price may undergo slight exhaustion.s the RSI has shown a bearish divergence after hovering within the overbought levels. Also, the MACD is on the verge to pop a bearish signal. This may compel the price to test the local support at $0.744. After a minor correction, the asset is primed to hit $0.85 and continue further to hit $1 in the upcoming week

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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