From a technical perspective, there are many positive indications that show a big potential in Ripple. XRP price has formed a trend line and support over the past few months. This trendline has already served as resistance three times, making it a confirmed trendline heading towards the support of around $0.53. As the trendline is heading towards support, a descending triangle has formed. 

However, since descending triangles are only valid after a price crash, we are not assuming a descending triangle here, but a simple consolidation phase, which could serve as a correction. As a result of this consolidation phase, the Ripple price could soon break the drawn trend line in a bullish manner and head for old highs.

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The fact that the Ripple course has recently been corrected more strongly has resulted in a possible ABC sequence. However, this ABC sequence is not yet activated. It only becomes active as soon as the high (A) is exceeded. With a trendline break, we would expect the price to be higher than point A, so we assume an active ABC sequence from there. The target of the sequence is around $3.34 – $4.15. If the Ripple price plays out in this scenario, there is a risk that the price will form a double top formation. More on that in the next long-term Ripple forecast.

Ripple price has risen to $0.91 since our last forecast. Shortly after reaching the target, the price corrected again and confirmed the former $0.85 resistance as resistance. That's exactly how we expected the price to develop. With those two moves now complete, we expect a fresh move higher to $0.91 next. If this resistance breaks, the price could rally to the $1 level soon. After the Ripple price has reached the $1 mark, we expect another correction. This could hold again until the next support. This would be around $0.91. Price would confirm this level as support.

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The Ripple price could soon correct the previous fall from $2. However, since this is on the weekly chart/monthly chart, this rise could last a bit longer. We anticipate a rise to the GoldenPocket of $1.45. However, with horizontal resistance ahead of the GoldenPocket at $1.31, we anticipate a bearish reaction there already.

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Since XRP reaching $1 is in sight, buying at psychological price areas is a good plan of action. The reason for that is that crypto prices tend to break those areas in uptrends and then revert back to them for support. Here's a trade setup while XRP soars to $1:

• Buy price: $0.90
• Stop-loss price: $0.86
• Take-profit: $1 or more!

You can even set a trailing stop-loss as the uptrend continues higher. Bear in mind not to place a tight stop in that case, especially when the market turns volatile.

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The year 2022 started on a bad note for cryptocurrencies, including XRP. Its prices fell from a high price of $1.4 and reached the strong support area of $0.58. In figure 1, we can clearly see the downward parallel channel. Day traders love trading those channels, as they represent predictable patterns. They sell near the upper line band and buy near the lower band line.

After the strong rebound at $0.58, XRP price started to recover and is currently on an uptrend. Despite the macro bearish outlook, XRP is looking to break this downward trend. This can be achieved when prices break the $0.80 barrier in the short term.

It is very probable that XRP reaches $1 soon. For this to happen, many factors other than technical price-action should come into play. Firstly, the overall cryptocurrency market should show a positive outlook. Since Bitcoin is the dominant cryptocurrency, its price still affects most cryptos. Hence, a BTC price break above $50,000 would also send the entire crypto market upwards.

XRP reached $1 many times before, and this should be no problem. On the other hand, XRP is one of those altcoins that never reached its previous ATH from 2018 yet. The SEC lawsuit might have contributed to this, but there is currently positive news in that regard that Ripple company might settle with the SEC, or even not need to and simply win the lawsuit. This should definitely bring prices closer to the ATH price of $3.