There’s A Lot Of Speculation About XRP Price Predictions: Will XRP See $1?

Crypto News – Ahead of Ripple‘s Victory Party on September 29, the price of XRP breaks out of a falling pattern and reclaims support at $0.50.

There’s A Lot Of Speculation About XRP Price Predictions: Will XRP See $1?

Like many other cryptocurrencies on the market, the price of XRP is now on the rise. The new spot Bitcoin exchange-traded fund (ETF) registration by Franklin Templeton Investments served as the catalyst for this bullish view, which has seen the price of XRP rise by 3% to $0.5 and was later supported by a favorable reaction to the US CPI statistics.

What Does the XRP Price Movement Look Like?

XRP price is currently just over $0.5, but the 100-day Exponential Moving Average (EMA) (blue) at $0.5018 is preventing further upward movement. In order for momentum to become powerful enough to overcome resistance at the moving average and open the way to $0.7, there may need to be a four-hour to daily close above the immediate support.

A bullish breakout was anticipated when a falling wedge pattern formed. Two trendlines connecting a string of lower highs and lower lows have generated this reversal pattern. In order to confirm the breakout, traders look for a break over the trendline resistance that is accompanied by a surge in volume. With a goal of 7%, which is the distance between the pattern’s broadest points, buy orders are frequently triggered above this breakout point.

Bulls’ confidence in the uptrend, which is indicated by the blue MACD line holding above the red signal line, improves as XRP’s momentum rises. It is typical to anticipate that the momentum indicator will eventually ascend into the positive zone and close the distance to the mean line (0.00).

About Victory Party

On September 29, Ripple will have what it has nicknamed a “Proper Party” to commemorate its victory over the Securities and Exchange Commission (SEC). The judgment, issued in July, found that programmatic sales of XRP on third-party platforms, as opposed to direct sales to institutions, are not securities.

In addition to celebrating what the victory means for the top global payment network, Brad Garlinghouse, the CEO of Ripple, stated on August 28 that it is time for a Proper Party that will mark a significant achievement for the whole cryptocurrency industry.