- XRP prepares to break the psychological $1 support.
- The altcoin’s momentum starts to show strength.
- XRP could dip below $1 and hit $0.87 before its long-awaited rise to new ATHs.
Altcoin analysts continue to hold hope despite the many calls for altseason being lost to the wind. The long-awaited altseason is expected to have skipped the previous bull cycle and is instead expected to surge in the coming bull cycle. Already altcoin are preparing for the inevitable surge as XRP prepares to break the psychological $1 Support. The altcoin’s momentum starts to show strength.
XRP Prepares to Break the Psychological $1 Support
Several altcoins have been showing strong indicators for a bullish turn of events over the coming months and years. Many believe that the altcoin cycle has yet to begin and are awaiting a strong bullish pump to arrive for promising altcoin asset prices. A few assets like NEAR and FET had a small surge before falling to lower lows. Alongside them, other altcoins like XRP prepare to surge.
As we can see from the post above, XRP price is about to break psychological $1 support. While most people will freak out, and will likely trip a cascading sell down to 0.95, it’s important to note the 24 volume. On Binance it’s a mere $68 million, down from well over $1 billion. The analyst goes on to state that at these numbers it’s very simple to manipulate. Leading to lots of people opening long positions because they think the bottom is in.
Adding on, the expert says that this is what allows the stage to be ideal for Binance and VIPs to liquidate these positions quite easily with only a very small slush fund. The post also mentions how the current order books are super thin, with only $4 million sales triggering a drop in prices to the 0.95 level, and likely closing out millions in longs. Given these moves, it is very likely for XRP to pull a significant move.
Altcoin’s Momentum Starts to Show Strength
Meanwhile, another reputed XRP trader, analyst, and enthusiast says that XRP momentum is starting to show its hand. So far, this expert has stated that XRP will make one final leg down to claim the $0.87 price range, which will likely be the assets bottom range before XRP can rise significantly to not only reclaim its previous ATH prices but to rise further and set several new ATH prices as well.
As we can see from the post above, the expert says that despite the week kicking off with momentum coming through, she expects XRP to make its way toward the $0.87 macro support, specifically on Coinbase. Once both $1 and $0.87 are hit, the RSI gains time to cool off, allowing sell pressure to weaken. From there, we wait for momentum to build into a stronger break, potentially around midweek.
