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- 1 XRP Price Prediction suggests a rise and a significant increase in the value is possible in coming months.
- 2 XRP Price shot up 74% in a single day after Ripple won the case with SEC.
- 3 The XRP crypto price attempts to break $1.00.
XRP Price Prediction turned highly bullish and suggests outperformance is possible in coming months. It shot up 74% in a single day after Ripple won the case with SEC. It was the biggest single day rise in XRP in the last two years.
XRP crypto price breakout of its 18 months consolidation with strong buying volume. Therefore, the breakout looks reliable and prices are likely to hold the higher levels.
The sharp rise in the buying volume indicates some genuine investors had injected the money and expecting out performance.
XRP Price succeeded to climb above the 50 and 200 day EMA showcase the trend is reversing upward. However, the prices had shown a sharp rise and entered into the overbought territory. So minor consolidation or retracement is possible for the base formation.
XRP crypto price hit a yearly high at $0.9380 but failed to give the follow up momentum. It witnessed minor profit booking but prices defended the $0.6000 support.
XRP Price is trading at $0.7249 with an intraday rise of 0.98%. The 24 hour volume to market cap is 15.28%. The pair of XRP/BTC is trading at 0.00002376 with an intraday rise of 0.30%.
Will XRP Price trade above $1.00 soon?
XRP Price remains quite stable and consolidated in a wide range over the long period of time. It had not generated any returns in the past 2 years. Well the recent breakout looks powerful and seems like long term investors will be rewarded soon.
Till XRP Price sustains above $0.6000 the bullish momentum is likely to continue. Any short term downmove will be absorbed by the buyers and prices are likely to bounce back. However, the prices had shown a massive spike so it might spend some time in consolidation.
The possibility of reaching $1.00 remains high and fresh buying is possible above $1.00. The technical analysis suggests, XRP price is cheap below $1.00 so more upward momentum is possible.
One of most rewarding week for XRP crypto
XRP crypto price turned bullish on the multiple time frame. Present week is one of the most rewarding week for its investors. The rally has just started and buyers seem to be returning back to the track.
The RSI curve at 71 indicates the strength of bulls but entered into the overbought territory. So minor retracement is possible. The MACD takes a U-turn and generates a sharp positive crossover. The histogram bar is on rise which confirms the strength of bulls.
Conclusion
XRP Price Prediction turned highly bullish after it breakout of the $0.6000 hurdle. Buyers are aggressive and trying their best to push the price above the $1.00 level.
The technical analysis suggests, XRP crypto is cheap below $1.00. So, It might attract the attention of investors soon.
Technical levels
Resistance levels: $1.000 and $1.3500
Support levels: $0.6000 and $0.5000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
