XRP Price Prediction: EMA Breakout Predicts Massive Bull Run to $1
As XRP price action shows a downtrend, its price action shows a bearish pattern in the making. Moreover, the market crash caused Ripple to fall below the psychological mark of $0.50.
However, with the recent recovery in XRP price and the increasing probability of a market recovery, the altcoin is ready for a bull run. Will the bullish trend reach $1? For a long-term forecast, check out our XRP price prediction.
What is the bullish outcome of the falling wedge pattern?
XRP price action reversed from the $0.7221 mark and the downtrend showed a falling wedge pattern on the daily chart. Moreover, the decline intensified the death cross of the 50D and 200D EMAs.
After breaking below $0.50, the altcoin found support at the downtrend line near $0.4183. With the fresh rally, the altcoin has gained 10% in five days and challenged the upper trendline. Currently, XRP price is trading at $0.4672, up 4.07% intraday, with the fifth consecutive bullish candle. The altcoin shows great upside potential with a wedge breakout and rounding bottom reversal.
Technical indicators:
EMA: With the bullish rebound, the XRP coin challenges the 50D EMA as the moving average turns down after the death cross.
RSI: The daily RSI line shows a quick reversal from the oversold border, reflecting a significant increase in demand for the XRP coin.
Will XRP price reach the $1 milestone?
As the bullish reversal in XRP price gains momentum, OTC traders anticipate a breakout rally. With a wedge breakout, the altcoin is likely to challenge the 200D EMA at $0.53.
Also, according to the wedge pattern, the Ripple price could peak at $0.72. Considering that the altcoin is supported by the broader crypto market recovery, XRP’s uptrend could reach the psychological mark of $1.
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