XRP Price Prediction: Ripple edges closer to a 23% breakout

XRP price is slithering close to breaching the declining trend line and triggering a full-blown upswing.
A decisive close above this hurdle will allow Ripple to revisit $0.956 and $1.030 levels.
If the remittance token produces a lower low below $0.688, it will invalidate the bullish thesis.

XRP price is stuck in a downtrend for roughly a month but is slowly marching toward an inflection point. A breakout from this hurdle could trigger a massive uptrend for the remittance token.

XRP price resurgence likely

XRP price has been stuck under a declining resistance level for more than a month. So far, every attempt from the bulls has failed to breach this hurdle. However, the recent uptick in buying pressure seems to have propelled XRP price to retest this barrier.

A decisive close above $0.900 will indicate a breakout from this ceiling and confirm the start of an uptrend. In this situation, XRP price will aim for a retest of the $0.950 hurdle. Clearing this area will open the path to revisit the $1.030 resistance level and collect liquidity resting above it.

In total, this upswing for XRP price would indicate a 23% ascent from the current position - $0.828. While retesting $1.030 could be a short-term target, an increase in bullish momentum could allow XRP price to extend its climb to $1.100, revealing a 33% gain.

XRP/USDT 4-hour chart

On the other hand, if XRP price fails to breach the declining trend line, it will indicate a weak buying pressure. If the sellers wish, they could knock the remittance token down to $0.688. A swing low below this level will invalidate the bullish thesis for XRP price and potentially crash it to $0.612.

Share: Cryptos feed

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.