Price Analysis

What is Stopping Ripple’s XRP Price from Smashing $1, How Long Will it Consolidate Below $0.8?

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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Apr 9, 2022

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Highlights

    XRP price continues to accumulate below $0.8 after a couple of fake breakouts above $0.87

    The price appears to prepare for a strong upswing aiming to clear the crucial resistance between $0.85 and $0.87

    The XRP price may only reach $1 after it successfully tests and clears not only the above resistance but also the pivotal levels around $0.96

XRP Price to Retest $0.8 in the Next 24 to 48 Hours!

XRP price after a slight recovery from $0.75 to $0.793, again slipped to its previous levels quickly. The price is currently consolidating just above the lower support and waiting for a significant momentum to kick-start a strong uptrend. However, a significant buying volume has been accumulated and hence the price is expected to range high shortly. 

The XRP price at present appears to be well-positioned for a significant uptrend to test the immediate resistance. Here is the probability of a breakout from the symmetrical triangle is pretty high the price is very close to the apex. A breakout from these levels may begin with an uptrend towards the much-required levels close to $1. Moreover, a clear upswing above $1 is also possible. 

Also Read: Attention Traders! Crucial Weekend for the Bitcoin(BTC) Price, Rapid Price Movement Incoming!

Ripple’s XRP Price to Hit a Double-Digit Score Soon

With the advancements in the Ripple vs SEC case, the emails sent to the SEC- official William Hinman as warnings emerge. As Mr Hinman had some conflict of financial interest with his previous firm, he frequently held meetings and conversations with the authorities despite official warnings being issued. And hence Ripple may be benefitted heavily from its native token enjoy a joy ride towards a double-digit figure. 

A popular analyst marks a couple of breakouts in the past that led to a massive bull run to the ATH in 2018. And as per him, the price is manifesting a similar consolidation that it underwent before the 2018 breakout. Ripple’s XRP price may soon break out from the consolidation and secure $1.2. Further, it may ignite a gigantic rally towards a double-digit figure. Therefore it is pretty important for the price to slice through the important levels at $0.85 and later at $0.96 to reach $1.2, after successfully testing $1. 

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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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