XRP Price Prediction: Can XRP Reach Above $1 in 2023?

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

After maintaining a notable rise in the past couple of days, the XRP price is undergoing a decent correction in the short term. Despite the consolidated trend, the price still looks out for a considerable breakout with the formation of a bullish pattern, eyeing a recovery above $0.55 before the end of the weekly trade. 

The XRP price is managing within a bullish range and trading at $0.48 with a slight upswing of 1.28%. The recent recovery initially aimed to reach $0.5 and secure levels above $0.52. But the start of the day’s trade began with a consolidation, which dragged the price slightly lower. The pullback appears to be the beginning of a fresh downward trend, but this is also treated as an opportunity to attract fresh liquidity, as bulls may certainly not lose their grip over the rally. 

The XRP price continues its trade within a bullish pattern, in an ascending triangle, and is expected to maintain a healthy upswing to reach the edge of the consolidation. Moreover, in the short term (hourly chart), the price has formed a bull flag pattern. Hence, a bullish breakout appears to be fast approaching in the short term, which may help the price trigger a rebound in the long term. 

Besides, the price has risen above the crucial 200-day EMA levels, which may offer a base to trigger a rebound in case of a bearish divergence. Therefore, if the pattern executes well and the market conditions respond in favor of the crypto, the price may initially reach above $0.6. This can be considered a huge buy signal that may further lift the price close to or beyond the yearly milestone of $1.