XRP Price Primed For Another Major Run, Is $1 On Cards?

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Just like other cryptocurrencies, XRP’s price has been steady recently. It’s holding onto the gains it made after a legal win for Ripple against the SEC, but the case isn’t over yet.

Last month, a federal judge made an important decision about Ripple’s XRP. This legal news quickly affected the market. The price of XRP shot up from $0.47 to an impressive $0.96 in just one day, which was a huge 100% increase. But the excitement didn’t last long, as the price dropped back to $0.60 soon after. Even though it dropped, the XRP market still hasn’t shown strong enough momentum to go past this level. 

Ripple’s price is going through a long period of correction because it’s facing strong resistance at $0.85. But there’s a chance that the downward trend might pause soon as the price gets closer to a strong support area.

Crypto enthusiast Crypto Crusader shared on his Twitter account that unless XRP drops below the $0.62 level, it seems ready for another significant surge. Currently, it has been moving within a sideways range, and as we know, the longer it stays in consolidation, the more potential for a big move.

He wrote, “Unless $XRP loses the 0.62 level, it looks primed for another major run.  It has just been ranging sideways at this point and we all know the longer the consolidation… well you get it. I’m expecting $1+ to happen on the next run up. Remember the summer is usually boring.”

Michaël van de Poppe raised the question of when we might see a new strong upward movement in the XRP price. He pondered whether this move would originate from its current position or possibly a bit lower, around the $0.55 mark.