By Franklin Smith
- XRP sees its price hovering under the resistance zone at $0.911, acquiring momentum for another uptrend.
- Buying strength resurgence might propel Ripple high by 15% to gather liquidity above the critical zone of $1.
- Breaching the support level of $0.740 might catalyze a retracement towards the demand territory at $0.595 – $0.632.
Ripple (XRP) price registered a massive surge over the past week, overpowering its consolidation. The uptrend met a substantial obstacle on 9 February, and the remittance token contemplated a directional bias.
Ripple Price Targets Higher High
Ripple price gained 55% from 3 February to 9 February, printing swing peak around the $0.918 value zone. Since then, the cross-border transactions coin appeared to slow down. The pause can be due to bulls’ exhaustion on surged profit-booking.
Nevertheless, bid orders’ resurgence might be vital in catalyzing a 15% upside move for Ripple’s token. A quick move above $0.911 will clear the road towards the psychological level of $1. The altcoin formed a double top in 2021 December at this mark, leaving buy-stops beyond the mark.
Therefore, market makers can propel XRP past this zone to gather liquidity. Though a positive case presumes that Ripple will continue the uptrend, a conservative angle might see the crypto retracing towards the closest support zone at $0.817, then $0.740, attracting bulls to create the momentum necessary for the next upsurge.
On the other side, XRP slicing through $0.817 and $0.740 supports will see the daily demand region in the $0.595 – $0.632 range offering bulls a footing for price reversal. Nevertheless, a daily candle close under $0.596 will cancel the bullish narrative. With that, the alternative coin might crash towards $0.518.
Remember, XRP has maintained its spot in the top ten despite market crashes and the legal battle with the US SEC. For now, the remittance crypto targets higher ranks towards the most sought after, top five. That is after it flipped Solana and Cardano to rank 6.
Maintaining such developments may see XRP hitting its upside target without challenges. Also, the ongoing bullish run in the crypto spectrum can support Ripple towards the journey past $1.
Feel free to share this article.