XRP Price Prediction: XRP Price Rallied 45%; Will The Rally Continue to $1?

XRP price prediction favors the bulls and suggests that an upward momentum could continue in the coming months. XRP price shot up 27% (approx.) in a single day and broke out of the 6-months consolidation range indicating strong buyer presence. XRP crypto witnessed a massive spike in the buying volume with the price following in the same direction. Essentially, it is likely that genuine buyers accumulated from lower levels.

XRP price sustained above the 50 and 200 day EMA and displayed a golden crossover. It shows that the positional trend is in upward direction and prices are expected to hold the higher levels.

XRP price is trading at $0.5141 with an intraday decline of 0.75% (at the time of writing). The 24-hour volume to market cap ratio is 0.0613. The pair of XRP/BTC is trading at 0.00001820 BTC with an intraday decline of 1.09% indicating minor correlation between BTC and XRP.

From the past couple of months, XRP price was stuck in the range between $0.3000 to $0.4337 and finally saw an upside breakout. The breakout triggered positive sentiment among long term investors and prices began to expand upside by forming higher high candles.

Will XRP Price Hit $1.00 in Mid-2023?

XRP price is up by 15.65% (approx.) over the week and attempted to break the swing high hurdle at $0.5000. However, the attempt was not successful and prices faced minor profit booking from the higher levels.

XRP price might be over extended and might consolidate for some time near the supply zone before deciding the further direction. On the other hand, if the profit booking continues then $0.4337 will act as an important support and the probability of bouncing back remains high. Technical analysis suggests that XRP price is in a bullish grip and if the bulls break the $0.5000 hurdle, then it may reach $1.000 by mid-2023.

Will XRP Price Break the Pre-FTX Level?

XRP price is near the pre-FTX-collapse level which is acting as a hurdle zone for the bullish traders. However, the buyers seem to be more aggressive than the sellers. Therefore, the probability of an upward range expansion is high. The MACD has generated a positive crossover; the histogram bar is on the rise indicating prices are likely to trade with a bullish bias. The RSI at 64 sloping upward indicates strong buying pressure.

Conclusion

XRP Price prediction suggests a rise in the long term and that the buyers might be overwhelming. XRP crypto price showed a surprising rally in the past few days and is expected to consolidate for some time before continuing further momentum.

Technical levels

Resistance levels : $0.5000 and $0.6535

Support levels : $0.4337 and $0.3466

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.