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- 1 XRP price prediction is bullish for the next month as well as for the long term.
- 2 XRP crypto price is preparing to break both EMAs’ hurdles.
- 3 Ripple – XRP price is trading near the make-or-break level.
XRP price prediction is bullish and suggests that crypto is preparing for a massive rally. It retested the breakout level and entered into the narrow range of consolidation.
Ripple – XRP crypto price has consolidated for quite a long time and is likely to break the higher range in the coming months.
The 50-day and 200-day EMA in XRP is sloping sideways indicating prices lacked direction. However, if buyers succeed in pushing the price above both the EMAs, then the uptrend might begin.
The price pattern of XRP crypto is bullish on a higher time frame and indicates buyers near the $0.4200 level.
The majority of the selling pressure is getting absorbed in the demand zone. So, the probability of further downside is low. However, on the higher side, sellers are also active and keep on rejecting every attempt made by bulls.
If in the coming weeks, the BTC price breaks out of the $30K hurdle, then it will spread the positive waves in the crypto market. Moreover, the positive waves might increase the possibility of a breakout in the XRP.
At the time of writing, XRP price is trading at $0.5104 with an intraday decline of -1.79%.
Will XRP Price Defend the Demand Zone?
XRP price prediction favors the bulls and suggests bulls are getting ready for the breakout. In July 2023, XRP price rose 73% in a single day and formed a giant bullish candle.
However, the buyers failed to give the follow-up momentum and slowly the price declined and lost the complete gain.
At present, the XRP price is exactly near to the breakout level so the existing investors are trying their best to defend it. The technical analysis suggests that XRP price is inside the demand zone and the probability of taking a U-turn remains high.
Will Ripple – XRP Crypto Price Hold Weekly Gains?
Ripple – XRP crypto price is up by 5.19% in the current week and buyers are trying to hold the weekly gains. Crypto needs fresh buying as well as whales’ participation to break the higher range for new price discovery.
The MACD curve displayed a positive crossover and the histogram bar is also turning green. It indicates bullishness and prices might shoot up anytime. The RSI curve at 53 denotes strength and bulls seem to be returning back to the track.
Conclusion
XRP price prediction is bullish for the next month and suggests a significant rise in the value is possible.
Ripple – XRP price is trading near to its demand zone so the probability of an upward reversal is high. Therefore, XRP price looks cheap at current levels and is a good time to invest for the long term.
Technical Levels
- Resistance levels: $0.5500 and $0.6488
- Support levels: $0.4211 and $0.3500
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.
