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.
Also Read: THORChain Hits 23-Month High! What’s Next For RUNE Price This Month?
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.