Ripple (XRP) Shows Itself As Crypto Powerhouse; Will Price Reach $1?
08 October 2022 - 6:00PM
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XRP price shows the market how to run the show as the price remains
bullish with good volume and strength. XRP trades above support as
the price aims to continue its trend movement as the price keeps
holding above 8 and 20-day EMA. The price of XRP eyes a rally to $1
as key resistance was flipped into support with more buy
orders. The price of Ripple (XRP) has continued to show its
strength as price trends with a key breakout from a downtrend range
against tether (USDT). With the crypto market cap bouncing from its
weekly low as the market continued to look promising, the price of
Ripple (XRP) was not left out as the price broke out of its
long-range with price trending to a higher height with eyes set for
a possible $1 target. (Data from Binance) Related Reading: Shiba
Inu: How This Newly Found Support Will Boost SHIB Price This Week
Ripple (XRP) Price Analysis On The Weekly Chart The crypto market
received relief, as most crypto altcoins expected. However, despite
the recent price surge in most crypto assets, some altcoins have
remained range-bound. One project that has kept its price moving up
on steady over the past few days has been XRP. After the
announcement of the court order ruling in favor of Ripple (XRP)
winning, the case has been received very well by XRP, a price trend
week in and week out as price eyes $1. The price of XRP saw its
price rejected to a weekly low of $0.3 with the court order coming
at the right time; the price rose from that low to a height of
$0.53, creating a more bullish scenario. If XRP maintains its
bullish structure with a strong volume, we could see a price rally
to $1. Weekly resistance for the price of XRP – $0.6-$0.8. Weekly
support for the price of XRP – $0.3. Price Analysis Of XRP On The
Daily (1D) Chart On the daily timeframe, the price of XRP continues
to show strength as it pulls some gains despite the market
appearing to have stalled in price movement; after hitting a daily
low of $0.44, the price of XRP rallied to a high of $0.5 before
being rejected into an ascending triangle as it struggled to break
out with price breaking out and looking more bullish for a rally.
The price of XRP breaking out signals more bullish trends to a high
of $0.6 and a possible rally to $1. The price of XRP holding 8 and
20-day Exponential Moving Average (EMA) is a good sign for price
growth. The prices at $0.50 and $0.4 correspond to the 8 and
20-day EMA values. The Relative Strength Index (RSI) for XRP
shows increasing buy orders as the value is above the 50 mark area
daily. Daily resistance for the XRP price – $0.6-$0.8. Daily
support for the XRP price – $0.45. Related Reading: Dogecoin Tanks
After Gaining Momentum, Will It Mark New Gains? Featured Image From
Finbold, Charts From Tradingview
Ripple (COIN:XRPUSD)
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