XRP Adds 17% In 3 Weeks, 30 Million Coins Moved From Upbit: Is $1 Inevitable?
XRP is up 17% in three weeks but still stuck below $0.66. Will Ripple bulls press on and soar to $1 in the coming days?
XRP is steady when writing and has not made any meaningful gains over the past few trading sessions. Even though the uptrend remains, it is clear that the zone between $0.60 and $0.66 is a strong liquidation zone. Despite attempts by buyers to print higher highs, XRP has been recoiling strongly, just like it has been doing since July. Accordingly, while buyers strengthen, a new trend will be set, perhaps a second wave of buying pressure, once the coin soars above $0.66. In that case, it would be easy for XRP to retest $1 in a buy trend continuation pattern.
Buyers are confident but this doesn’t show in the daily chart. Currently, XRP is in green, steadying, and up nearly 17% from September lows. At seventh, the coin’s trading volume is low, at around $929 million over the past trading day.
Traders are monitoring the following XRP and Ripple news:
- XRP might be stable, but some entities are bullish, expecting the coin to move higher strongly in the coming days. According to XRPL data, nearly 30 million XRP have been moved from Upbit—a massive vote of confidence for buyers.
- Whether or not the United States SEC will appeal remains to be seen. However, one lawyer thinks there is a 60% chance of the regulator appealing the recent ruling. Others view this move as a decision that will further weaken its authority, especially if Ripple lawyers still come on top.
XRP Price Analysis
XRP/USD is flat when writing.
Despite gains over the last week, there is strong resistance at around $0.60.
A close above this level, confirming gains of September 12 through to 14, could spark another wave of demand, lifting the coin toward $0.66.
Before then, risk-off traders can stay on the sidelines, aware that XRP could fly to $1 if there is a conclusive close above July highs.
In the short term, aggressive traders can consider longs on every contraction above $0.55.
If not, and XRP breaks below $0.55, the coin may slip further to $0.50 in a reversal.
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