XRP price is all set to enter the profit zone, yet maybe still short of some momentum to hit $1 at the earliest. The recent jump from the $0.71 zone to as high to close to $0.8 levels has broken the consolidated range to some extent. However, the price still fails to hover within the safe areas which fall above $0.81. And hence with another leg down, the price may slice through the lower support and fall into the same bearish trap.
Conversely, the asset trends above the monthly trend line and hence appear extremely bullish at the moment. And hence it may be a good time to enter and fetch some short-term gains at different price slabs. At present, the XRP price is said to be within the range-bound levels and hence the beginning of the uptrend is quite expected.
A popular analyst, believes it to be a great buying opportunity for the XRP price as the path towards $1 appears pretty clear. Moreover, the price has firmly sliced through the monthly descending trend line and also hovering along the newly formed uptrend line. Therefore it also appears to be pretty decisive as a small step beneath may drag the price towards $0.6 levels. However, the upper targets are mentioned with the uppermost target still being below $1.
Also, there are some minor possibilities of an interim retracement towards the lower support at $0.74. Moreover, the XRP price is below the 21-day WEMA which may act as a dynamic resistance. On the other hand, the RSI is currently neutral and cements at the average levels. Therefore a strong influx of liquidity may only uplift the RSI, strengthening the rally.