- XRP price pops 1% after spokesperson says Ukraine is ready to talk about conceding Donbass to preserve peace in Ukraine.
- Ripple price already topped 2% intraday but got a rejection from a historic pivotal level.
- Expect more gains as the magic $1-level has been put back on the table.
Ripple (XRP) price sees a bullish continuation helped by another round of tailwinds that are supporting the positive spin coming from the equity space. With cryptocurrencies on the front foot, the long-awaited uptrend for 2022 finally seems to have kickstarted after a few geopolitical constraints. Expect to see a further bullish rally with $1 as a price target in the near term.
XRP price set to pop 15%
XRP price saw a bullish handover from the Sunday session into the ASIA PAC on Monday morning with a flat top on the close from Sunday. This points to a very bullish signal as investors and market participants were in the market to buy at any price available. With this vast demand, ASIA PAC already printed some excellent figures, with $0.8784 to the upside – almost exactly against $0.8791, a pivotal history level.
Ripple price unfortunately then saw a rejection unfold that is now pushing price action back below +2% gains for today. Bulls shouldn’t get discouraged, however, as the European session will probably trade a bit sideways. The US session will probably prove to be the catalyst that pushes the price above $0.8791 as at that level, the most significant volume will weigh in on bears trying to defend $0.8791, but they will eventually get squeezed out. Today, $0.90 will be the halting point as the 200-day Simple Moving Average will weigh and form a price cap before hitting $1 later this week.
XRP/USD daily chart
As the comments triggered this rally came from, only one said it is wait-and-see how Russia will react to the proposed concessions. The risk is that, yet again Russia will remains silent and does not concede to anything and will want to keep every area and capital it has under control. That would mean a setback to the peace talks and would see price action in XRP plie back to $0.8390 in a first phase and continue down to $0.7843, which would mean an 8% correction to the downside.
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