Many believe that Ripple (XRP) has been gearing up for a surge ever since the Terra disaster. Although it is still trading at the same level it did before the market crash, it shows great chances of a massive hike soon.
XRP / US Dollar 1D (Source: TradingView)
Nothing noteworthy happened to the XRP price over the last couple of days, although the price rose slightly around mid-September.
When looking at XRP’s chart, we see that the XRP price is very close to completing a bull flag pattern, which could give the price a leg-up over the $0.51 level. If this were to happen, the bulls could further lift the price close to $0.60 to perfectly execute a cup and handle pattern. This could mean an upswing in price is in the cards for XRP. Another fact counting in favor of the upswing theory is the fact that XRP is trying very hard to rebound off the $0.45 level. This, in turn, could set up XRP for a price swing towards $0.6.
The fact that XRP has already tested the support further suggests a 20% to 30% rally ahead. In a lead-up to this, the XRP price is expected to be under a bullish influence for the rest of the month.
According to the crypto market tracking website CoinMarketCap, XRP is currently trading at $0.4615 after a 4.88% increase in price over the last 24 hours. Although Ripple is up for the day, the crypto is still down more than 3% over the last week.
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Source: Cryptocurrency - investing.com
