Finance

Ripple primed to surge to $1.30

  • XRP price faces stiff resistance ahead.
  • Only a 4-hour candlestick close above $1.18 could see Ripple target $1.30. 
  • Failing to do so could see it retrace to $0.84. 

XRP price continues consolidating without providing a clear signal for where it is heading next. Two significant barriers could define Ripple’s fate. 

XRP price waits for volatility 

XRP price is currently tussling with the 100 four-hour Simple Moving Average (SMA) at $1.094, which coincides with the supply zone’s lower limit. Therefore, investors can expect Ripple to pull back by 10% into the demand zone that stretches from $0.948 to $0.985.

Interestingly, the 50 four-hour SMA at $0.942 is extremely close to the level mentioned above, so an XRP price correction here will mostly face extinction and allow buyers to kick-start a move higher.

Following the short-lived downswing, XRP price may push to the 100 four-hour SMA at $1.094. A successful breach of this level will allow the buyers to conquer the supply zone and send prices higher.

Only a decisive close above $1.183 will confirm a breakout for XRP price. Such a move will allow the bulls to carry the remittance token to retest the 200 four-hour SMA at $1.293.

XRP/USD 4-hour chart

On the flip side, if XRP price fails to hold above $0.934, it will invalidate the optimistic narrative. A spike in selling pressure will set the stage for a 9% drop to $0.84.

View more information: https://www.fxstreet.com/cryptocurrencies/news/xrp-price-forecast-ripple-primed-to-surge-to-130-202106011358

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