Ripple awaits the ultimate breakout to $1 following extended consolidation



  • Ripple is looking forward to a breakout to $1 as long as the price closes the day above the 50 SMA.
  • The breakout to $1 is likely to encounter delays around $0.7 to $0.75 (supply range).

Ripple is still trading above $0.6 after a motionless weekend session. The cross-border cryptocurrency appears to have settled for consolidation just like Bitcoin as discussed earlier in the day. Meanwhile, a breakout is expected to come into the picture as consolidation is likely to hit a tipping point in the near term.



At the time of writing, XRP is doddering at $0.61 while battling an uphill task at the 50 Simple Moving Average on the 4-hour chart. Ripple will have to settle above the moving average level to first sustain the uptrend before confirming a breakout towards the next hurdle at $0.65. The rest of the journey to $1 will depend on the bulls’ ability to overcome the supply at $0.7 to $0.75.

XRP/USD 4-hour chart

XRP/USD price chart
XRP/USD price by Tradingview

The Relative Strength Index in the same 4-hour timeframe shows that sellers have the upper hand at the moment. If the negative gradient continues under the midline, a considerable breakdown would come into the picture.

On the downside, it is essential that XRP/USD holds above the middle boundary of the Bollinger Bands, to avert losses that might refresh 100 SMA support at $0.57. It is worth noting that a breakdown can occur following the Bollinger bands constriction, risking the progress made since the fall to $0.45. The 200 SMA is in line to absorb some of the selling pressure, and perhaps prevent Ripple from plunging sharply.

Ripple intraday levels

Spot rate: $0.61



Relative change: -0.008

Percentage change: -1.1%

Trend: short-term bearish

Volatility: Extremely low

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Author: John Isige

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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