• XRP price is currently hovering above the $0.464 support level, but the upside is capped due to the $0.561 to $0.596 hurdle.
  • A flip of this resistance area into a support floor could kick-start a 52% run-up to $0.900.
  • A daily candlestick close below $0.464 will create a lower low and invalidate the bullish thesis for Ripple.

XRP price continues to remain strong relative to other altcoins despite the recent downturn. Regardless, the crypto markets seem to be shifting their bias to favoring bulls, so investors can expect Ripple to continue its ascent.

XRP price ready to make hay

XRP price sliced through the upper limit of the $0.331 to $0.464 range on September 22 and has continued to sustain above it. The most recent retest of this barrier was on October 13, which was followed by a massive surge in buying pressure that has propelled it by 15% so far.

As XRP price hovers around $0.498, Bitcoin price has seen a bullish breakout. If this trend continues, investors can expect a further spike in buying pressure for the remittance token.  This move would allow the altcoin to retest the $0.561 to $0.596 hurdle, which has been a significant level since January 2022.

Therefore, a flip of this hurdle into a support floor will be an important development for XRP price and could propel XRP price up by 52% to sweep the equal highs at $0.914.

XRP/USDT 1-day chart

XRP/USDT 1-day chart

While things are looking up for XRP price, the ongoing run-up could get rejected at the $0.561 to $0.596 hurdle. However, this rejection could invalidate the bullish thesis if it flips the $0.464 support level into a resistance barrier.

Such a move could open the path for bears to knock XRP price to the midpoint at $0.397.

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Over $560 million in liquidation

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Over $560 million in liquidation

Bitcoin hovers around $97,000 on Wednesday after declining more than 5% the previous day. Ethereum and Ripple follow in BTC’s footsteps and decline 8.3% and 6.15% respectively. This recent pullback has triggered a wave of liquidations, resulting in over $560 million in total liquidations in the crypto.

More Cryptocurrencies News
Crypto market surged to $3.9 trillion record market cap as Solana's revenue plunged in December: Binance

Crypto market surged to $3.9 trillion record market cap as Solana's revenue plunged in December: Binance

In a report on Monday, Binance Research stated that the crypto market reached a market capitalization milestone of $3.9 trillion in December. The researchers suggest anticipation surrounding Donald Trump's upcoming pro-crypto administration could stretch the bullish momentum in the coming weeks.

More Cryptocurrencies News
Aave V3 taps Aptos blockchain for first non-EVM integration

Aave V3 taps Aptos blockchain for first non-EVM integration

Aave Labs launched its decentralized lending protocol, Aave v3, on the Aptos testnet following an announcement on its governance platform. This marks the protocol's first non-EVM integration, leveraging Aptos's Move programming language for its v3 functionality.

More Aave News
XRP consolidates below $2.50 as long-term investors offload $470M

XRP consolidates below $2.50 as long-term investors offload $470M

XRP price slid 8% towards $2.30 on Tuesday, as bulls failed to reclaim the $2.50 resistance level. On-chain data suggests rising selling pressure for XRP long-term investors ahead of Donald Trump’s inauguration. 

More Ripple News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP