Ripple (XRP) is looking poised to rally towards $1 – How realistic is that?

Bitcoin Dogs Coin
Worlds First Bitcoin ICO Presale Ends 15th March
Bitcoin Dogs Coin
Worlds First Bitcoin ICO Presale Ends 15th March

Ripple (XRP) is looking poised to rally towards $1 – How realistic is that?

By Motiur Rahman - min read

Ripple (XRP) has had a lot of negative press in recent weeks with the SEC lawsuit. As a result, many investors appeared to be steering away from the coin. But at the start of March, XRP started to gain some momentum. Analysts are looking at a rally above $1, but how feasible is that? Here are some highlights first:

  • Ripple (XRP) is winning the SEC suit, and investor confidence is returning.

  • The coin has however been rejected strongly at $0.85.

  • Any run towards $1 must overcome the $0.85 resistance.

Data Source: Tradingview 

Ripple (XRP) – is $1 realistic?

Well, to be fair, it won’t be the first time Ripple (XRP) surges above $1. The coin is coming out strongly after positive news in the SEC suit. But in previous trading sessions, XRP has been firmly rejected at $0.85. The resistance has in fact proven quite hard for bulls to overcome in recent weeks.

We believe that any rally above $1 can only come if XRP is able to sustain gains above that threshold. At the time of writing this post, the coin was trading at $0.75. Also, surging above $1 will now mean that XRP has risen above its 200-day EMA, which could trigger a decisive bullish run. 

But with a lot of selling pressure and short-term speculative trading right now, it will take a lot of persistence by bulls to edge above the $1 mark.

Are investors buying Ripple (XRP)?

For a long time, we have always known that Ripple (XRP) is a decent asset to buy. But the SEC issue was affecting investor sentiment towards the coin in a big way. 

Now that these issues have started to clear out, it is likely that investors are also returning to XRP. After all, this is a big crypto project with the promise of superb long-term gains. It makes sense to own it as part of your investment strategy.