- Ripple price surged early today past a vital area and seems ready to attack the following crucial value territory.
- XRP jumps amid optimistic news from the US Fed as a market player return to place bets on equity markets.
- Expect the remittance token to witness some challenges near $0.9158 (200-day Simple Moving Average) before an explosive towards $1 in the upcoming weeks.
Ripple bulls appear aggressive after conquering two significant areas in the previous 48 hours. The cross-border transaction coin seems prepared for an additional 5% jump and might close beyond $0.8791. It will take 4% only to test and break past the 200-day SMA and clear the road towards the $1.00 mark in up-and-coming weeks.
Ripple Primed for Highest Gains since Mid-February
XRP price appears ready for another colossal move similar to early February occurrences, though somewhat less impressive. Firstly, investors should concentrate on Monday’s entry-level that had bulls joining the trade before the Ripple price touched the $0.7843 barrier.
Meanwhile, bulls pushed the remittance coin further higher, attempting to close beyond $0.8390. Determination had them achieving a close on the area.
Ripple price appeared primed for another upward move today morning, though bears attempted to utilize the opening price as entry to protect their stops staying above.
However, that plan flailed as bulls outshined bears while pushing XRP towards the $0.8791 mark. Another daily close past the area would see Ripple attacking $0.9158 as the initial hurdle before exploring the vital value zone at $1.00. Ripple is yet to hit this mark in 2022.
Meanwhile, Ripple might see its tailwinds fading as quickly as they emerged. For instance, Russia defaulting on the obligation to ensure coupon payments to its foreign investors will ruin the entire financial space, triggering price crushes.
Debt default would see the nation on a collapse brink, worsening the inland condition. Such developments will send markets to risky mode again, with XRP price plunging towards the $0.7843, or $0.7304 supports.
The current bullishness across the crypto market might back XRP in its move towards the targeted $1. The global cryptocurrency market cap stands at $1.93 trillion, following a 3.47% surge within the past 24 hours. Maintaining the upside stance would see XRP achieving its aims with fewer hurdles.