XRP Price Prediction as $1.4 Billion Volume Sends XRP Above $0.50 Resistance – Is a $1 XRP Possible in 2023?
The XRP price has dipped to $0.551065 this morning, representing a 1.5% loss in the past 24 hours as the market falls by a similar percentage.
Yet XRP has risen by 7% in the past seven days, with this week’s market-wide rally sending it comfortably above the $0.50 resistance level.
It’s also up by 14% in the past fortnight, with recent good news in the Ripple-SEC case also having a positive effect on its price.
And with its fundamentals remaining as strong as ever, its price is likely to witness more jumps in the next few weeks.
XRP’s chart is interesting, insofar as its price has been moving within a narrow range and may therefore break out very soon.
It also looks like its 30-day moving average (yellow) is about to pass over its 200-day (blue), another sign of an incoming breakout.
At the same time, its relative strength index (purple) remains high, hovering around 65 after reaching 70 earlier this week.
That it hasn’t risen above 70 could mean that further gains are coming soon, even if it has dipped today.
And again, it has been rising and falling between $0.53 and $0.48 over the past couple of months, suggesting that it should stage a big rally soon.
Such a rally may come when the market receives more positive Bitcoin ETF news, although the SEC isn’t due to make a decision until January.
Regardless, the XRP price will jump if ETFs are approved, along with the rest of the market.
Now you truly believe that BlackRock doesn't care about XRP? lol
BlackRock knows what is going on behind the scenes. #Bitcoin ETF and #XRP ETF on the way!
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