Can XRP Price Reach $1 After Rising 25% in One Week? Watch out for this key support level

However, the recurring fractal moves in 2018-2019 could spell trouble for XRP’s long-term upside prospects.

XRP prices continue to rally after falling more than 70% in the April 2021-January 2022 correction.

Why is the XRP/USD 50-week EMA key?

On February 13, XRP/USD traded as high as $0.916, above the 50-week exponential moving average (50-week EMA; red wave) near $0.833. The uptrend, while not conclusive, opens up the possibility of further bullish momentum, largely due to the historical buying sentiment surrounding the aforementioned wave.

Can XRP Price Reach $1 After Rising 25% in One Week? Watch out for this key support level

XRP/USD weekly price chart with 50-week EMA Source: TradingView


For example, in the week ended July 27, 2020, traders managed to reclaim the 50-week SMA as support, while more than a year ago they used volatility as resistance. Later, the price of XRP rose by more than 820% in April 2021 to $1.98, the highest level in more than three years.

Conversely, XRP’s 50-week SMA acted as a strong resistance level multiple times during the bearish 2018-2020 cycle. This suggests that this wave can withstand bullish recovery sentiment, such as witnessed during the current price rally.

Can XRP get $1 back?

XRP now needs to hold decisively above its 50-week SMA, which could allow it to reclaim $1 in the coming sessions.

This level is about 25% above current price levels and is in line with two key resistance targets for XRP. The first is a downward sloping trend line that has persisted for several months since April 2021, and this trend line has limited the coin’s upward bias.