xrp cryptocurrency price

XRP explodes more than 44% from flash crash lows, move to $2 incoming

Ripple flows out of exchanges as Bitcoin and Ethereum inflow spikes
Written by publisher team

  • XRP price was wiped out during Saturday’s crash.
  • The massive recovery after the sale is likely to be a sign of a reversal in XRP’s fortunes.
  • Follow the bulls as necessary to regain momentum higher.

XRP’s price action was on the brink of an imminent crash long before the massive sell-off occurred on Saturday. XRP’s price levels were on the lows as well. A new uptrend for XRP is likely to start next week.

XRP price collapsed from $0.92 to $0.57 but managed to close at $0.85

XRP price is set to massive rally after the rapid crash. The daily and weekly candlesticks have likely developed one of the biggest bear traps in XRP history. FOMO will accumulate in this cryptocurrency very soon, especially if XRP returns to the $1.00 value area.

Since XRP has already released the previously predicted price levels, the move has taken place, and XRP could start its next rally. To do this, the XRP price must first close at or above the daily Kijun-Sen at $0.98. For an undeniable bullish breakout, XRP needs a daily close at $1.21. If $1.21 is reached, the expected target range is the $2.00 value area, followed by the $3.35 price level.

XRP / USDT Ichimoku Daily Chart

However, there are still downside risks. XRP has Ripple’s SEC disaster cloud hanging over it, and any hints of continued uncertainty or a negative outlook for Ripple could have a significant impact on how XRP is traded. The downside risk for XRP price is the 2021 volume control point at $0.45.

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