Well with the beginning of the monthly trade, most of the crypto assets are showcasing huge bullish momentum. The Bitcoin price sliced through the strong resistance and continues to remain consolidated within the higher levels. And hence the recent jump also pumped the XRP price too out of the consolidation. However, a significant buy signal popped out and hence the asset appears to be primed to hit $1.
The XRP price is facing a stiff brawl as it is unable to record a notable gain or a plunge. The short-term forecast is quite uncertain as the RSI is pointing bearish where-as the MACD is neutral. Yet, on the other hand, the RSI in the long term is quite bullish. While the MACD is on the verge of letting out a huge bullish signal. Moreover, according to an analyst, XRP price may hit levels close to $10 by mid-2022.
The analysts have considered a higher monthly time frame chart where-in the StochRSI is mirroring a previous rally. The StochRSI had a bullish cross in the past and rallied more than 74x in the first phase. Further consolidated within a symmetrical triangle and rallied 14x. Currently, during the previous year’s bull run, the StochRSI again witnessed across after which it rallied more than 10x. Interestingly, the asset is yet again swinging within the same symmetrical triangle and a breakout is fast approaching.
Therefore, with the breakout from the triangle, an uptrend may ignite a rally by 5x. This could hit a double-digit figure. On the other hand, the Ripple vs SEC case is also undertaking multiple twists and turns that may be pretty bullish for the XRP price. And hence taking all the factors into consideration, XRP price breakout appears to be imminent and could uplift the price towards $10 in the second half of 2022.
