Ripple had its biggest gains since the crash in December 2022. Consolidation fumbled the token leaving it immobile in a range between $0.25 and $0.3. However, in recent weeks, XRP has hinted at a possible technical breakthrough. Friday’s comprehensive analysis predicts that XRP is poised for a massive gain to $0.4.
Meanwhile, Ripple was trading at $0.54 after topping conservative predictions. The breakout occurs after the symmetrical triangle pattern. The path of least resistance is to the upside as observed on the 4-hour chart.
Price has recovered above all applied MAs; Simple Moving Average 50, SMA 100, and SMA 200. double golden cross pattern on the chart reinforces the growth influence the bulls have on prices.
It is very important for buyers to set support higher, preferably above $0.5. This will ensure that the downside is protected and allow them to focus on higher levels towards $1. Some delay is anticipated around $0.6 but if the bullish outlook remains intact, a rise to $1 will be easy to achieve.
In particular, the Moving Average Convergence Divergence (MACD), which tracks the asset’s momentum as well as its direction adds credibility to the bullish narrative. The MACD line has increased its divergence above the signal line, implying that the bulls are fully in control. However, in case of a correction, XRP will take refuge at $0.5, $0.4, and the former resistance zone at $0.3.
Spot rate: $0.54
Relative change: 0.05
Percentage change: 10%