With Bitcoin taking a pullback to retest the $36K mark, the XRP price takes a step to retest the $0.64 demand zone. The altcoin remains in some supply zone, but the Ripple price may soon take off once the SEC case concludes once and for all.
Further, the 97% Year-to-Date growth promotes the positive indications in the Ripple price prediction.
Source – TradingView
With a bullish turnaround from the $0.46 mark, the XRP price continues to head higher with increased momentum. The quick developments in the case against SEC and the overall market recovery support the bullish turnaround in Ripple prices.
As the buyers reclaim the $0.65 mark, the overhead supply at $0.70 leads to a retest phase and forms multiple Doji candles last week. Nevertheless, the bulls maintain trend control and tease a cup and handle formation in the 1D chart.
Currently, the XRP price trades at $0.66, taking support from the $0.65 support zone, but it shows an intraday fall of 0.96%. Moreover, the declining trend in the pullback reflects a weakness in the selling spree and teases a stronger bullish comeback.
Technical Indicators:
RSI indicator: The daily RSI line takes a short dip under the overbought zone as the pullback extends to a sideways trend. At 66%, however, the RSI line remains strongly bullish and projects a bullish trend.
EMA: With the growing gap between the 50D and 200D EMA, the average lines reflect a strong uptrend in motion.
Will The XRP Price Reach $1?
With the market recovery at a small halt, the XRP price trend maintains an optimistic approach with a cup and handle pattern. Further, the Doji candles at the $0.65 mark tease a bullish reversal in the Ripple prices.
Considering the reversal rally breaks $0.75 and the bullish continuation pattern, the breakout rally can reach the $1 mark.
On the flip side, a reversal under $0.65 can lead to a price drop to $0.52.
