NewsletterXRP Price Prediction: Prepares To Reclaim $1.0 On A Bullish Pennant Pattern Breakout
XRP price trades in a very tight range as the fresh trading week begins but on a positive note. As the price trade is near the inflection point, either side’s breakout will decide a further course of action.
- XRP price edges higher on Monday.
- More gains in XRP if the pennant pattern results in a bullish breakout.
- The momentum oscillators hint at the continuation of the upside momentum.
XRP price awaits a crucial breakout
On the daily chart, XRP price trades inside the ‘Pennant’ formation. After testing the lows in February at $0.62, the price continues to trade higher but with limited gains. Currently, the XRP price trades near the ‘inflection point’. A breakout above or below will dictate the further price action in the asset.
Looking at the possibility of the breakout, It is important to analyze the volume’s trend. While the price is moving higher, volumes were also rising. This indicates the trend is in favor of a bullish breakout. Now, if that happens, in that case, XRP must face the 200-day SMA (Simple Moving Average) at $0.84 as the first step toward further upside movement.
Above 200-SMA XRP price will meet the next target at the highs of February 9 at $0.91.
However, in order to take out the psychological $1.0 mark bulls must make strong buying pressure.
On the other hand, if the price falls to the session’s low then it will be a case of a lower breakout with the first target at $0.75 followed by the horizontal support at $0.70.
As of press time, XRP/USD is trading at $0.89, up 0.60% for the day.
Technical Indicators:
RSI: The daily Relative Strength Index holds firmly above the average line. The current reading is at 57.
MACD: The Moving Average Convergence Divergence (MACD) points at the continuation of the uptrend as trades above the central line with the underlying bullish sentiment.
- Breaking: US SEC Deliberates on Approving FLEX Options on BlackRock Bitcoin ETF (IBIT)
- Crypto ETF Update: SEC Blocks 3x and 5x ETF Filings, Calls for Major Changes or Withdrawal
- Strategy CEO Says Bitcoin Sales Unlikely Before 2029 After Creating $1.44B Dividend Reserves
- Trump Sets Early 2026 Timeline for New Fed Chair Pick
- Kraken to Acquire Backed Finance, Expanding Tokenized Equities Ahead of 2026 IPO
- Litecoin Price Jumps 10% as Vanguard Opens LTCC Access — How High Can LTC Go?
- Pepe Coin Jumps 14% on Double Bottom Signal Amid Market Recovery — Is a 50% Rally in Sight?
- Hedera Price Surges 10% After Canary Capital HBAR ETF Goes Live on Vanguard
- Bitcoin Price: What’s Next For BTC After Fed Chair Jerome Powell’s Speech?
- XRP Price Slowly Forms a Rare Pattern as Ripple ETFs Near $1B Milestone
- Chainlink Price Eyes More Recovery After Grayscale’s Spot ETF Launch
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
