XRP is ready to take off as this indicator promises a 180% increase.
Sukhareva Last week, XRP traded predominantly in the green zone, maintaining a stable position above the support level at $0.50. Perhaps this is why analyst Egrag Crupto believes that the formation of a double bottom observed on the XRP chart signals strong bullish momentum, giving confidence in an inevitable upward rally eck. In addition, he defined the consolidation zone as a supply zone and a range of savings, and these corrections indicate a favorable setting for the XRP price for a noticeable upward movement.
Based on the potential bullish momentum, the market expert suggested that XRP could rise to around $1.4, which would represent an increase of 180% compared to the current price. XRP color code - $1.4. The formation of a double bottom gives us a strong bullish signal, and I am confident that movement will begin soon,” the analyst said. Such a surge could revive investor interest in XRP, gaining momentum from current events involving Ripple and the Securities and Exchange Commission (SEC). Ripple claims that the SEC has no substantiated allegations of fraud in relation to the sale of XRP tokens. The company demanded specifics from the SEC to eliminate future violations in XRP sales and contracts. The number of millionaires owning XRP is growing. Meanwhile, data from the cryptoanalysis platform Santiment shows that as of April 2023, the number of wallets containing One million XRP is 2013, which is slightly less than the previous peak in June 2023.
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