Ripple Price Prediction: XRP Launches Recovery Mission Aiming for $1

Last Updated July 23rd 2021
2 Min Read
  • Ripple holds crucial support at $0.52 as bulls take complete control.
    • A break above $0.7 to bolster XRP toward $1.

    Ripple bulls flex their muscle after receiving a beating from the beginning of the week. As the rain poured, investors’ holdings suffered greatly. Only the support at $0.52 halted the breakdown, allowing bulls to take control. XRP has reclaimed the uptrend above $0.64 amid the push by bulls to close the day beyond $0.7.

    Ripple price eyes upswing to $1 after securing crucial support

    Oversold conditions reached this week could not allow bears to remain in the cockpit. Hence, bulls took complete control of the throttle and pushed for initial recovery. With the price settling above $0.6, buyers have eyes on $0.7, as mentioned.

    Meanwhile, the uptrend is validated by both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators on the four-hour chart. At the time of writing, the former is about to lift above the midline, a move that will confirm the growing bullish grip.

    Subsequently, the MACD may present a buy signal as the MACD line (blue) strikes above the signal line. The bullish signal will also be reinforced by the momentum indicator’s lift toward the zero line.

    XRP/USD four-hour chart

     XRP/USD 4-hour chart 062321

    According to Santiment, a leading on-chain data analysis platform, Ripple’s network growth has started to improve. This model shows the number of new addresses created on the XRP Ledger each day. It illustrates user adoption over time, and investors can use it to ascertain whether a project is gaining or losing traction.

    Improving network growth is a crucial bullish signal. It has a direct effect on the inflow and outflow of tokens from the network. Moreover, as the uptake of XRP increases, the price tends to rally. Therefore, adding weight to Ripple’s ongoing recovery.

    Ripple network growth model

    XRP/USD santiment chart 062321

    Ripple price bearish outlook

    Ripple must close the day above $0.7 to validate the uptrend to $1. However, if the immediate support at $0.65 fails to hold, losses may soar and perhaps test the support at $0.55 before extending to $0.52. For now, the primary goal is to take down the resistance at $0.7 and avoid potential declines.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.