XRP Price Prediction: Can XRP Overtake Solana Again Before 2024?

cryptonews.com:

The XRP price has remained steady in the past 24 hours, sticking to $0.620626 as the crypto market as a whole rises by 1.5% today.

XRP’s performance has disappointed in recent weeks, with the altcoin actually down by 1.5% in a week and by 4% in a fortnight.

This underperformance has enabled Solana to leapfrog XRP into fifth position in the top 100 cryptocurrencies by market cap, with SOL up by an impressive 17% in the last week alone.

However, it’s entirely possible that the market’s undervaluation of XRP will lead to a correspondingly large rally in the coming weeks, especially if 2024 brings a bull rally.

As the chart below illustrates, XRP’s indicators continue to suggest that the cryptocurrency may continue to struggle for a little while yet before it mounts a sustained recovery.

For example, its relative strength index (purple) has dipped below 50 again today, suggesting that further falls are likelier than further rises at the moment.

Something similar could be said about XRP’s 30-day average (yellow), which after rising quite healthily in early November has been largely flat for the past few weeks.

Despite this negativity, XRP’s support level (green) has held up relatively well in the past couple of months, so even if the coin will find it difficult to rise in the near term, it probably won’t fall in any significant way.

Also, its 24-hour trading volume is also encouragingly high, at around $1.3 billion today, compared to just under $500 million at various points in previous months.

Yet it seems that whales have mostly been selling the token over the past few days, with Whale Alert recording three XRP transfers worth at least $10 million each to exchanges in the last 24 hours (here, here and here).