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Thursday, May 19, 2022

🎓 XRP price is setting up for big gains… when can it hit $1?

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XRP is poised for significant gains, after it was expected to move towards consolidation when moving inside a bull flag throughout February.

As Ripple price broke out of the range, but is waiting for strong fluctuations to start a strong move higher, and currently rose above the $0.8 level, but may retest the $0.8 level if pressure from sale increases.

The coin ranged high outside the consolidation band that formed a bullish flag leading to a 3%-4% rally since early trading hours.

Wave

XRP price is currently following the new trend line that has formed and has been following since the price trend reversed a month ago, and a major breakout is expected when the coin reaches the top of the ascending triangle formed. .

However, the bulls can enter the cycle once the price remains strong above the immediate resistance levels to push the price above $1.

On the contrary, if the price of Ripple does not rise, it could severely affect the bulls.

Also, the price is re-entering the flag, which clearly indicates that the bulls are not ready to go higher yet.

Therefore, a further drop in the coin can push the price back below $0.7, nullifying the upside path.

In such a scenario, the price of XRP could return the lower support level below $0.6, which seems highly unlikely at the moment.

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