Price Analysis

This is When Ripple (XRP) Price May Leap Long to Hit $1!

Author: Sahana Vibhute

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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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Highlights
  • XRP price is displaying a significant divergence from the bearish trend and awaiting for a firm conformation

  • Conversely, the bears are anticipated to face strong resistance after the price breaks through $0.45, which foresees a 5% to 6% price decrease.

The price of XRP has surged by 74% since its recent high of $0.559. The XRP price has been in a descending triangle for the past hour and is anticipated to resolve soon. According to theoretical forecasting techniques, the price will decrease by 15% after the issue is resolved. 

The midpoint is around $0.45, and the bears are expected to experience significant resistance through this level. After breaking through this level, prices might likely fall by 5% to 6%. 

It is anticipated that the Ripple vs SEC continuing legal dispute, which was first filed in December 2020, will be resolved. It will be interesting to see if there are any current dips because it is a good time to buy.

From $0.381 to $0.439, one can see a daily or one-day demand zone. In a one-hour time frame, the descending triangle places the target for XRP around $0.381, a crucial milestone as stated previously.

Seeing where XRP might go if the descending triangle breaks because of the demand is intriguing. Prices in the demand zone began to form in the second week of May. At about $0.40, price accumulation must be observed. Beyond that, the FVG on a daily time scale may be observed peaking at a candle on September 21 at $0.43.

Expecting the Bitcoin price to sweep $17,600 and recovery over that level would be exceedingly bearish for XRP, Bitcoin, and the altcoins if prices soar above the daily demand zone assuming good market circumstances. In this situation, it is anticipated that a rebound starting from a daily demand zone will encounter significant resistance up to 38%, or roughly $0.60. Prices may rise directly to their equal height of $0.9145 once they manage to reverse the $0.60 level.

In the upcoming days, the XRP price is anticipated to increase by 100%. Given that the 74% change occurred after the index price had been consolidated for around 128 days, it might not occur right away. To cause the prices to spike early, catalysts are needed.

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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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