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XRP slams over $ 1 on the weekend



The price of Ripple (XRP) always sees bullish momentum in the course of the test of $ 0.8390. A few minor headwinds in the global markets keep the bullish breakout in check. Expect investors to continue entering at current levels and preparing for a surge towards $ 1.0 over the weekend.

The XRP price could hit the $ 1.0 mark over the weekend

The Ripple price is still hovering between $ 0.78 and $ 0.84. Investors use this zone to enter the trade as the Relative Strength Index (RSI) rises and the purchase volume outweighs the sales. Some headwinds in global markets are currently holding back upward price movements in check. Once that wears off, investors should pull the trigger and push XRP higher. 

The XRP price is expected to break out above $ 0.88 and tackle the first real hurdle with the 200-day SMA (Simple Moving Average) at $ 0.95. The smoothing line of the last 200 days is crucial because a breakout above it is considered a signal of an uptrend that will attract even more buyers to the rally. If the MA is overcome, the rally should continue towards $ 1.05. The 55-day SMA is just below that. This mark is likely to be reached towards the end of the weekend or early next week.

The rally could end here as well as the XRP bulls face stiff resistance at $ 1.09, which is both the monthly pivot and historical support level. Expect profit taking at this level as well as at $ 1.05 and the 55-day SMA. Should global markets encounter headwinds, there is a risk that the price will not break out of the way at all. On the downside, the next targets are at $ 0.78 and $ 0.63, where a ricochet off the blue descending trendline is possible.

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