XRP has gained over 230% in 30 days, reaching its highest levels since 2018. The strong uptrend, supported by indicators such as RSI and CMF, suggests the potential for further gains.
If the current uptrend continues, the cryptocurrency's price could rise to $1.90 and even test $2, marking a 16% increase from current levels.
However, if the trend weakens, the asset risks a correction to support levels at $1.21 or $1.05, representing a potential decline of 39%.
XRP is overbought, but the uptrend may continue
The Relative Strength Index (RSI) is currently at 74.8, reflecting strong bullish momentum following its recent surge. Being above 70 puts the altcoin in the overbought zone, signaling increased buying activity and possible caution for traders.
RSI do XRP. Fonte: TradingView
However, historical trends show that XRP’s RSI has climbed beyond 70 before, often reaching levels as high as 80 or even 90 before corrections occur.
This indicates that despite being in the overbought territory, the token’s price could still rise in the short term. If the current momentum continues, XRP could extend its rally further before any significant pullback occurs, making it crucial to monitor the RSI trajectory closely.
CMF is now positive, but still not that high
The CMF is currently at 0.08, reflecting a notable change of nearly -0.10 in just one day. The CMF, or Chaikin Money Flow, measures the flow of capital into or out of an asset based on price and volume over time.
Positive CMF values indicate net capital inflows and buying pressure, while negative values suggest outflows and selling dominance.
CMF do XRP. Fonte: TradingView
While a CMF of 0.08 is positive, it remains significantly below levels seen in early November, such as 0.30 and 0.20 during major bullish periods. This suggests that while buying pressure has returned, it is still not as strong as during previous peaks.
If the CMF continues to rise, it could signal further growth for the XRP price, with room for the uptrend to gain additional strength in the coming days.
Price Prediction: Can XRP Go to $2?
XRP is trading at its highest level since 2018 after an impressive 231.39% gain in 30 days. The EMA lines show that the asset is currently in an uptrend. If this continues, it could reach $1.90 and even test $2, which would mark a 16% increase from the current price.
XRP Chart on TradingView
However, if the uptrend weakens, the asset could face a correction, with important support levels at $1.21 and $1.05. A drop to these levels would represent a potential decline of 39%, highlighting the importance of maintaining bullish momentum to avoid a significant pullback.
The article XRP Forecast: reasons to believe the price could go to $2 appeared first on BeInCrypto Brasil.
