XRP Price Prediction, Ripple Sees Impressive Q1 Growth 🔥🔥🔥

Despite ongoing legal issues, Ripple has seen impressive growth in Q1 2024, hitting several milestones.

According to Ripple’s earnings report released on May 17, XRP spot trading volumes surged 40% from Q4 2023 to $865 million in Q1 2024. Average daily open interest in XRP derivatives also increased, from $460 million in Q4 2023 to $500 million.

On-chain transactions grew 108%, and XRP destroyed from transaction fees grew 101%.

These results may highlight the strength of Ripple’s underlying business despite the company’s legal battle with the U.S. Securities and Exchange Commission (SEC). These positive indicators could impact XRP’s valuation, and thus, its price trajectory.

Currently, XRP is holding the $0.50 support zone, mostly in a consolidation zone below $0.60. Investors are keeping an eye out for catalysts that could help the coin rally to the coveted $1 mark.

Based on data from May 18, the tool predicts that XRP could experience bullish momentum and trade at $0.66 by May 31, which would be an increase of more than 26% from XRP’s current price.

XRP is expected to continue its bullish run in the coming days, as XRP is facing a breakout line that was previously breached in July 2023 but failed to reach the expected height.

The white triangle pattern combines the 2021 highs, introducing a “final target line”. Therefore, the forecast is for a breakout near $1.50, with a more ambitious target of $7.50.

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