Ripple Price Prediction: XRP poised for a massive move as $0.75 beckons

By John Isige
Published February 12, 2021 Updated February 12, 2021
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Ripple Price Prediction: XRP poised for a massive move as $0.75 beckons

By John Isige
Published February 12, 2021 Updated February 12, 2021
  • Ripple confirms the uptrend after closing the day above $0.5.
  • XRP may flip massively bullish if the 61.8% Fibonacci resistance is broken.
  • A correction will come into the picture if XRP loses the support at $0.5.

Ripple price continues to use the recent support at $0.35 as the springboard back to $0.75 (new yearly high). The cross-border token has remained persistent in the battle for recovery, keeping in mind that it lags behind its peers due to the uncertainty it faces regarding the ongoing lawsuits. The Security and Exchange Commission (SEC) in the US wants it to be categorized as a security token.

However, Ripple Labs Inc., the company that issues XRP and its top executives maintain that the token is a cryptocurrency just like Bitcoin and Ethereum. As the brawl continues in court, XRP is on a mission of breaking barriers. Despite being pumped and dumped a couple of weeks ago,  Ripple seems attractive to investors, perhaps due to its low price compared to BTC and ETH.

At the time of writing, XRP trades at $0.56 after extending the bullish leg above the critical level at $0.5. The least resistance path is upwards based on the short-term technical picture.

For instance, the Moving Average Convergence (MACD) has reinforced the bullish narrative as it moves higher in the positive region. Moreover, the MACD line (blue) rests above the signal line, suggesting that XRP has a formidable bullish impulse.

The upswing to $0.75 will start to materialize as soon as Ripple closes the day above the 61.8% Fibonacci retracement level, taken between the last swing high of $0.75 to a swing low of $0.34. This the immediate hurdle and needs to come out of the way for XRP to flip massively bullish.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

On the other hand, a correction will come into play if the resistance at the 61.8% Fibo remains unshaken. Selling orders are likely to increase, especially with investors preferring to exit amid the uncertainty in XRP’s market. Previous support levels at the Simple Moving Average and $0.35 will come into handy to stop the losses.

Intraday levels

Spot rate: $0.55

Relative change: 0.025

Percentage change: 4.8%

Trend: Bullish

Volatility: Growing


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1152 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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