đđđ $XRP Price on the Rise: Whatâs Driving the Momentum?
Rippleâs XRP has recently shown bullish momentum, currently priced at $0.612. Crypto Yapper highlights a bullish formation in XRPâs chart, suggesting further potential gains.
XRPâs 24-hour trading volume is approximately $1.65 billion, reflecting a 7.1% price increase over the past day. The cryptocurrencyâs market capitalization stands at $34 billion.
Despite the positive sentiment, technical indicators present a mixed outlook. The daily Relative Strength Index (RSI) is at 52.71, indicating neutral momentum. The Moving Average Convergence Divergence (MACD) line is below the signal line, hinting at potential bearish pressure or consolidation in the near term.
Key support levels include an immediate support around $0.5736, where the price has recently bounced back. If XRP declines further, this level could provide short-term support. Additionally, $0.5700 serves as a psychological support level, potentially attracting buyers if the price falls further. A break below this level could lead to support around $0.5650, where previous stabilization occurred.
Conversely, Crypto Barbie, a crypto enthusiast, predicts that XRP is on the verge of its most significant breakout in history. She suggests that if XRP performs similarly to its 2018 rally, it could experience a 30,000% increase, potentially pushing its market cap to $9.66 trillion. This forecast is based on a symmetrical bullish triangle pattern observed since 2018.
Following a massive 60,000% rally in 2018, XRPâs price began a decline but has formed a bullish pattern over the past six years.
Source - coinedition.com
