Ripple is on the cusp of a major price hike

Ripple is one of the best performing cryptocurrencies today. XRP broke through its consolidation pattern last night. Does this mean the coin is ready for a price hike above $1.00?

Ripple price is above key USD 0.85 level

The Ripple price has been trading sideways for a long time, between $0.776 and $0.850. Last night, however, something remarkable happened. While most crypto prices fell, the XRP price rose 9% to a high of $0.91. Since then, it has bounced back somewhat, but the price of 1 XRP token is still above the key USD 0.85 resistance level.

According to several analysts, this could mean that the Ripple price is preparing to regain the crucial $1.00 level. If it does, that’s a very bullish sign.

XRP 1 Hour Chart – Source: Tradingview

For now, it is important that Ripple manage to stay above USD 0.85. From here, the coin could attack the $0.9236 resistance level, then the psychological $1.00 barrier.

If the XRP fails to stay above the USD 0.85 level, the price is likely to continue its sideways move in its old consolidation zone of USD 0.776 and USD 0.850.

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