XRP Price Ready To Hit  $1 With This Breakout Rally!

The post XRP Price Ready To Hit  $1 With This Breakout Rally! appeared first on Coinpedia Fintech News

With Bitcoin on the verge of reaching the $73,000 mark, silent altcoins like XRP price are back in action. Forming a huge bullish candle to change the dynamic of the price chart, Ripple’s price jumped by 18% overnight. 

Further, the trend reversal signals a high likelihood of the XRP price crossing the $1 mark. With the market reversal and the growing bullish sentiments, Will the Ripple price reach double digits? Find out more about our XRP price prediction.

Will Ripple Cross $1?

With the XRP price taking off from the 200-week EMA, the altcoin is preparing for a double-bottom breakout. Before doing so, the recent spike resulted in a triangle pattern breakout in the weekly chart. 

Source – Tradingview

Crossing above the 23.60% Fibonacci level, the altcoin price starts the week on a bullish note and is ready to challenge the next 38.20% Fib level. Hence, a strong closing above the broken supply trendline will increase the possibility of an uptrend. 

Currently, the XRP price trades at $0.70 with an intraday fall of 2.58% as a pullback of the overnight jump. With this short correction, the altcoin prepares to continue the prevailing trend. Further, the bullish engulfing candle from the 23.60% Fib level with a surge in trading volume supports the uptrend possibility.

Technical Indicator:

DMI: With this bullish jump, the ADX line spikes up, reflecting an increase in trend momentum. Further, the positive alignment of the VI lines gains a significant gap reflecting underlying bullishness.

Will XRP Price Sustain The Uptrend?

The market price rises with a huge whale transferring 300,000,000 XRP tokens worth almost $187 Million from #Binance to an unknown wallet. Further, the improving sentiments support the bull run in Ripple.

Considering the uptrend manages a double bottom breakout, the altcoin price can reach the $1.08 mark or the 50% Fib level.