Can XRP price reach $1 after 25% gains in one week? Watch this key support level By Cointelegraph

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© Reuters.

XRP price has continued to bounce back after falling by more than 70% in a correction between April 2021 and January 2022.

On Feb. 13, reached as high as $0.916, above its 50-week exponential moving average (50-week EMA; the red wave) around $0.833. The upside move, albeit not decisive, opened possibilities for further bullish momentum, mainly owing to a historical buying sentiment around the said wave.

XRP/USD weekly price chart featuring 50-week EMA. Source: TradingView
XRP/USD weekly price chart featuring upside target. Source: TradingView
XRP/USD weekly price chart. Source: TradingView
XRP/USD weekly price chart featuring downside targets. Source: TradingView