Will Ripple breakout and ascend above $1?

1 November 2021

in XRP

Reading Time: 2 mins read

XRP investors were excited to see their investment reach new heights when it hit a 20% increase in value. However, this rally quickly ended following the $1.15 price point, leading traders to fall below critical support lines.

The XRP price is $1.09 with a 24-hour trading volume of $4,324,857,066, and it’s down 1.61% on the last day. The current CoinMarketCap ranking for this cryptocurrency is #7.

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Ripple Price Analysis

The price of XRP reached a high point on the 27th, and after that, it started to drop. However, during this period, there was also an increase in prices by 20%. This eventually led up until almost $1.20 per coin was achieved at one point.

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The XRP bulls finally ignited a much-needed upwards run over the past three days as they cleared away all of their shorts and succeeded in triggering an impressive 13% gain.

It seemed as though the price had finally broken through a long-standing resistance, ascending from its bottom fall. However, just as quickly and unexpectedly, it was pushed back below by bears within an apex of consolidation.

The support at $1.06 should provide a comfortable floor for XRP to keep it above the psychological ceiling of $1, with an expectation that another breakout attempt can be made soon.

XRP Price Prediction

XRP is likely to remain above the $1 level and consolidate further. A break of that key resistance can send XRP to back up towards an average price of around 1 USD or even higher, depending on how much momentum buyers have at their disposal in this bear market for cryptocurrencies right now.

XRP/USD (Trading View)

A break above that can lead it on an upwards push beyond 2 dollars per coin.
Expected XRP breakout? The $1.2 resistance can yield success this week, depending on how price action responds to it. A successful test could lead to a new uptrend with much greater potential than before.

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