XRP price is showing a bullish setup after reclaiming the $1.40 level, and analyst Nebraskangooner has identified $2.12 as the upside target.
His chart shows an entry around $1.43, a stop level near $1.31, and a profit-taking target of $2.12. That means risking about 8.3% for a potential 48.1% gain, giving the trade a risk-reward ratio of roughly 5.8:1.
Nebraskangooner described the setup as offering a strong risk-reward opportunity but said he is not personally taking the trade.
XRP Price Needs to Hold Support
The key level is the 99-day simple moving average (99 SMA), which is acting as support. Nebraskangooner said XRP price needs to stay above this level to maintain its upward momentum.
The main support sits around $1.31–$1.32. A sustained break below this zone would weaken the bullish setup and invalidate the trade idea. Meanwhile, on the upside, $2.12 is the main target, with resistance around $2.10–$2.15.
XRP Gains While the Market Stays Flat
At press time, XRP was trading around $1.43, up 3.16% in 24 hours, making it one of the stronger-performing major cryptocurrencies while the broader market remained mostly flat.
XRP has recovered from its early-August low of about $0.987 and climbed to around $1.70 in late August before pulling back and finding support in the $1.30–$1.40 range.
The price of the coin is now at a key decision point. Holding $1.31–$1.32 keeps the path toward $2.12 intact, while a decisive break below that support would weaken the bullish outlook. From $1.43, XRP needs to gain about 48% to reach the $2.12 target.
Imminent Golden Cross
Other market watchers are also issuing bullish outlooks for XRP. As The Crypto Basic reported yesterday, XRP is approaching a potential golden cross, a bullish technical signal that occurs when a shorter-term moving average crosses above a longer-term average.
The setup is drawing attention because a similar pattern previously preceded XRP’s price rally from roughly $2.20 to above $3.60, a gain of more than 63%. Still, past performance does not guarantee another rally.
XRP has traded between $1.30 support and $1.50 resistance for about three weeks. The 20-week EMA sits near $1.28, while the 50-week EMA is around $1.53, making $1.50–$1.53 a key resistance zone.
Analyst ChartNerd says a decisive break above $1.50 could strengthen the bullish outlook, while a drop below $1.20 would signal weakness.