For the past few weeks, the cryptocurrency market has been trading in extremely unfavourable conditions, putting the majority of the tokens in tight consolidation. But XRP seems to be the centre of attention right now, since the price was able to end last week's trading on a bullish note. Additionally, the price is aiming to break through a critical obstacle that might start a gentle uptrend to the $1 interim milestone, most likely in June 2023.
Since it has been repeatedly rejected at this level since September 2022, the bears have been limiting the XRP price at $0.56 for more than a year. After a protracted period of stabilisation and strength buildup, the price is now decisively moving past the key resistance. As the bulls have gained the upper hand, the bears may decide to stop the rally and prevent a further rejection of the price.
Prior to that, the XRP price breached the falling wedge but was unable to produce a significant move to the north. Depleted volume was unable to produce the necessary volatility to draw in the bulls, therefore the price remained in a sideways trend. However, the price's recent rise allowed it to conclude last week's trading above the horizontal barrier, suggesting that an upswing akin to the one in 2021 may occur soon.
The price increased by about 200% during the 2021 breakout, reaching a yearly high of around $2. Therefore, if a similar scenario occurs, the XRP price is predicted to initially cross $1 and eventually reach values around $1.65. Additionally, the RSI is exhibiting a variety of behaviours that point to the potential for a further rejection. For the next few weeks, a respectable advance may be anticipated because the ADX, which gauges the strength of the rally, is gradual.
Reference - https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/
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