- XRP tests the support by the ascending trend-line for the 2nd week.
- Bears are attempting to halt the uptrend, but the multiple optimistic predictions for the coming year maintain the upward outlook.
- For now, XRP highlights a bear-trap that can trigger an upward move towards $1.
Ripple price remains on the back seat, but bullish gestures emerge from every angle. Meanwhile, the ascending trend-line maintains for a 2nd week, confirming bulls’ presence in the buying momentum. Also, December’s monthly S1 support at $0.80 support the same. Expect Ripple bulls to step up in the coming week, eyeing a move towards $1.0.
The Active Pennant Can Offer 40% Returns
XRP price has suffered challenges containing losses amid the December crash. The sharp decline by Bitcoin saw XRP dropping more than 44% of value. With that, the remittance coin broke the ascending trend-line, moving lower to the support level of $0.60.
For now, the uptrend remains intact as bears crash teeth at this trend-line, which makes a ‘bear trap’ for another consecutive week.
Expect bullishness to join the XRP market in the upcoming week as bulls rewash bears out of short position. The cross-border transaction crypto may return to 200-day Simple Moving Average at $0.95, with a potential rise to 55-day SMA near $1.05. Any further upward move seems limited at the moment as the red plus 2nd green trend lines are incoming, possible with current tailwinds. However, Ripple would lead to 40% gains around the $1.10 mark.
The crypto market should sustain more bullishness during the weekend for Ripple to prevent a break under the first ascending trend-line. Another sell-off at this mark will mean a massive crash. With that, it will form a double bottom with support near $0.59.
Nevertheless, the crypto industry sustains bearishness following the early December price crash. Positive sentiments are essential for XRP to keep its uptrends. Meanwhile, experts believe the current price drops form a base for massive upswings in 2022.
Also, the Ripple Labs executive highlighted that the SEC vs. Ripple lawsuit might end in the coming year. That would add more tailwinds to Ripple’s price.
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