The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/xrp-price-analysis-is-ripple-ready-for-a-launch-to-1/">XRP Price Analysis: Is Ripple Ready For A Launch to $1?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Coming back to $0.70, Ripple prices fall by 4.85% on Monday after facing rejection from the $0.81 resistance. Trapping multiple bullish inclined traders, XRP prices now trade at a 14.50% discount from that of last week.&nbsp; 
Nonetheless, the bull run is not lost as the XRP price action shows lower price rejection and floats above $0.70. This also highlights the presence of strong investors between $0.69 and $0.67.&nbsp; 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh4.googleusercontent.com/x7bd_LWmwhTJHtmPWO3mUjML8eOU9k0KYeDANgIWGs2m1NtogJlN0lqqmzKgGaKLRmwyGXnKrNGXboMHKq54jxVy7T5_9V2gz-NWumHA0yXzRpMkH4tLzb7RULGasYZSp-1P3XoI9gTKBnLukwvu8Iw" alt=""> 
</figure> 
Presently, the XRP price action shows a possibility of a morning star as it takes support at the 61.80 Fibonacci level. Moreover, the price action hints at a double bottom forming with a neckline at $0.81 upon successful reversal.&nbsp; 
Coming to the trading volumes, the second correction phase from $0.81 did lack bearish commitment. Plus, it presented a declining trend. The 20-day EMA (red) holds the bullish guard for now meanwhile the 50-day EMA (green) and 200-day(black) maintain positive alignment.&nbsp; 
The RSI indicator exits the oversold zone and flattens out close to the neutral line projecting a potential uprising. Similarly, Stochastic RSI hints at a bullish crossover shortly. Therefore, the technical indicators and the XRP price action support a bullish reversal possibility.&nbsp; 
Therefore, the Ripple price can reach $0.81 if it sustains the $0.67-$0.69 range. On an even optimistic note, if the XRP coin price breaks above $0.81, it may reach the 1.618 Fibonacci level at $1.03. 
On the flip side, a fall down below $0.67 can plunge the price of XRP to $0.59.&nbsp;

XRP Price Analysis: Is Ripple Ready For A Launch to $1?

CoinPedia News

Alte articole publicate pe 26 iul. 2023

XRP Price Nears Crucial Turning Point, Here Are Possible Scenarios

Sekuya Achieves Remarkable 1300% Gain After Listing on Bitmart

While Solana (SOL) and Polkadot (DOT) Suffer Price Plunge; Borroe ($ROE) Pre-Sale Remains Strong

Blockchain Analytics Firm Chainalysis Joins Forces With Deloitte

LidoDAO Pushing for Dual Governance Model, Giving stETH Holders Veto Power

Elon Musk Says Doge Rebranding Had No Impact

Join our free newsletter for daily crypto updates!