The XRP price maintained a massive downtrend throughout Q3 and Q4 that compelled the price to remain aloof from the market trends. Bitcoin price smashed its ATH somewhere in September 2021 and most of the crypto assets geared up to recover some of its losses.
However, XRP price seemed to be less impacted as it failed to rally beyond $1.4 levels. Yet with the beginning of the new yearly trade, the price is expected to build up strong bullish momentum that may ignite the rally toward the new ATH.
The asset consolidated heavily during the last few days of January 2022 that continued until the beginning of the present week. The start of the fresh week trade began with a notable uptrend that uplifted the price by more than 50%.
What’s Next For XRP Price ?
XRP price rose from around $0.6 to above $0.9 and is currently hovering around $0.87 from the past couple of days. However, continuing with a similar trend, the asset may spike high not only to hit the 2021 highs but also its All-Time High too.
The XRP price as mentioned is registering one of the strongest weekly candles currently. And hence it may breach through the resistance of the symmetrical triangle very soon. Once it is done, then the asset may clearly settle itself above $1.4 levels and also attempt to hit $1.5 before the weekly close.
After maintaining the descending trend for nearly 6 months, the RSI is diverted towards the north. Moreover, the RSI is on the verge to test the trend line and a successful attempt may flip the downtrend and ignite yet another bull rally.
Additionally, in the short term, the XRP price is manifesting a possibility of surging to the next resistance levels shortly. After a massive spike and some correction, the asset has formed a notable bull flag that may escort the price beyond $1 initially and later towards the $1.5 resistance levels.
On the other hand, positive advancements of the Ripple vs SEC case may also fuel the rally that may eventually assist the price to surge beyond $2 or even $3 to form a new ATH.
Source: https://coinpedia.org/price-analysis/xrp-price-primed-to-break-upwards/