Prepare: XRP Could Hit $40 Soon — Analyst Highlights Major Bullish Setup
XRP fell 1% today to $0.5328 while the crypto market lost 1.5% in 24 hours.
Although the seventh-largest cryptocurrency has up 11% in the last year, XRP is down 4% in a week and 6.5% in a month.
This may be small compared to other major coins (BTC is up 120% in a year), but it sets the stage for XRP's massive compensating climb in the coming months.
Some experts are forecasting big increases for XRP, setting goals as high as $40.
XRP's indications are oversold, suggesting a comeback.
After falling below 70 over the weekend, XRP's purple relative strength index is climbing to 50.
The coin's 30-period moving average (orange) may shortly soar above the 200-period average (blue), signaling a momentum rebound.
It's intriguing that whales are again buying XRP at its low pricing.
Smart money may be thinking that underpriced XRP will rise again.
Analysts foresee substantial increases for XRP in the near future, as do traders.
X expert STEPH IS CRYPTO recently commented that XRP's position suggests a long-term climb to $40.
$40 is the coin's best-case scenario, representing a 7,400% rise and a $2.25 trillion market valuation.
XRP has excellent foundations, but since Ripple settled with the SEC last month, it hasn't done much.
XRP should gain popularity now that Ripple can extend its operations proactively.
The price should reach $1 by year's end before reaching its ATH of $3.40 in 2025.
