XRPArmy Stay Steady-Ripple is About to Flash Massive Bullish Signal; Will It Reach $1?

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Written By Pinang Driod

The past weekend went out to be slightly in favour of the bulls as the Bitcoin price managed to rise above $67,700. This triggered a minor bullish phase that enabled the other altcoins to soar above their respective resistance levels. The XRP price also experienced a significant rise, surging above $0.63. The token has been facing some bearish heat since the beginning of the fresh weekly trade; however, the price is closer to triggering a healthy upswing soon. 

The XRP price continues to remain stuck within a narrow range against USD but against Bitcoin, the token is manifesting extreme strength. The XRP/BTC pair has reached some crucial levels, which may have a larger impact on the token if the bulls display their strength at this point. 

The Bitcoin price has been soaring, with a significant increase in its dominance. Due to this, the altcoins with BTC pairs have faced a huge pullback, indicating the growing strength of BTC compared to altcoins. However, after printing a series of red-bearish candles, the pair has reached the lower support of the ascending support. The token has marked these levels only two times in history, first before the 2017–18 bull run and secondly before the 2021 bull run. 

Besides, the monthly RSI also tested the lower support at the same time. Now that the levels have reached lower support, with the RSI also displaying a similar move, the possibility of a strong rebound emerges. This could kickstart a strong bull run that may lift the levels above the decisive triangle. However, before this move,  a minor pullback appears to be fast approaching. 

Each time before the XRP/BTC price soared high, a Doji candle formed that suggested a major move could be incoming. However, the token printed bearish Doji in 2017 and bullish Doji in 2021. After a bearish doji, the levels slightly dropped, followed by a massive bullish move. Meanwhile, bullish Doji triggered a healthy upswing. Currently, the monthly candle is about to close, forming a bearish Doji and hence a minor pullback appears imminent. 

However, after a minor pullback, the XRP price is believed to kick-start a fine upswing and secure new highs, probably by the end of H1, 2024. 

Also Read: ChatGPT Predicts Ethereum ETF Launch Could Propel ETH Price Beyond $7,000


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