Ripple (XRP) Encounters Multiple Obstacles before Returning to $1.25

Briefly –

  • Ripple price has to battle technical roadblocks on the way up.
  • XRP has massive bullish momentum signals.
  • The bearish strength remains persistent, but it becomes weaker each day.

Ripple (XRP) hikes higher regardless of the colossal selling momentum that dominated during 2021’s final days. Bulls appear committed to securing some precise actions beyond two governing resistance areas. Success here will likely take Ripple to prior ATHs.

Ripple Price Forms a Support Floor

XRP has seen its price values oscillating beneath and beyond 38.2% FIB retracement around $0.84 and 100%FIB expansion of $0.82. Meanwhile, the remittance token closed within the Ichimoku Cloud yesterday. XRP has not had such moves since 20 November.

Keep in mind that the Cloud has never been safe for any instrument. The territory represents misery, indecision, volatility, and whipsaws. Market players need to avoid the Cloud when interacting with Ichimoku Kinko Hyo. Meanwhile, XRP has to fight and conquer the initial hurdles within the Cloud: Kijun-Sen and Tenkan-Sen around $0.89.

After that, Ripple has to rise beyond and close past the most significant zone inside the Ichimoku Kinko: Senkou Span B. The level appears to be Ethereum’s topside of Ichimoku Could. The length of time spent on one price zone augments the resistance by Senkou Span B. Keep in mind that extended Senkou Span B means a powerful hurdle.

XRP’s Senkou Span B stays beneath the crucial value area of $1.0 at $0.97. Bears and bulls might witness an outbreak of activity within this price range once Ripple rises towards Senkou Span B. Ripple can hardly test this level once and close beyond it without further retests. For now, market players might feel intimidated by XRP price performance through January.

Meanwhile, a decisive candlestick close beyond $0.97 would trigger an upward move. That way, the cross-border token can move towards the following crucial resistance area around $1.25. Meanwhile, a close beneath $0.78 would translate to a collapse to the value area of $0.50.

Ripple’s multiple hurdles might keep XRP below $1.0 for a while. The coin will require broad market support and correct sentiment to ensure stable surges. Nevertheless, we expect a lucrative performance before 2022 ends.

By Edward Richardson
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