Price Analysis

XRP Price Could Gain Another 20% To Lift The Rally Above $1.2

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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Aug 12, 2021

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Article Highlights
  • XRP price smashed $1 levels for the second consecutive time, manifesting the huge tendency to rally towards the north

  • The breakout from the pattern suggest a pretty huge uptrend widely incoming for the asset that could carry the price close even $2

As Coinpedia reported earlier, the XRP price clinched the $1 mark in the early trading hours. But due to a slight pullback, the asset had dropped below but just for a matter of time. The price yet again climbed up above $1 as the bulls became a little active.

However, the price kept rotating around $1 by flipping some levels below and later recover above. And hence in doing so, the price chart showcases the formation of a clear bull flag having a target of around $1.2. 

Also Read: Polygon (MATIC) Price Could Form New ATH Above $3 With Nearly 200% Gains

xrpchart1

The price is currently plunging down, following the bullish flag pattern and could also hit $0.95 levels in the next couple of hours. But the upcoming bounce could be much lucrative as the price may jump another 20% to hit $1.2. As the asset failed to surpass $2 levels amid the extensive bull rally and remained the one asset that failed to form a new ATH. 

On the whole, most of the assets at the press time are experiencing a slight pullback. And hence, XRP price is also following the trend, but a rebound could also make its way out to prevent further short term loss. It’s mandatory for the price to remain within the channel else it could face an extreme drain to lower levels. 

Also Read: BitTorrent(BTT) Price Can Go Parabolic To Hit $0.008 In the First Week Of September!

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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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