How 1,000 XRP Could Turn into $100,000: Expert Predicts Massive Returns
The price of XRP has jumped by 3.5% in the past hour, racing to $0.6203 amid a combination of promising indicators and SEC speculation.
This rise means that XRP is now up by 3% in a week and by 30% in a month, although the popular altcoin – the sixth-biggest in the market – is actually down by 13% in a year.
However, today’s breakout could potentially reverse this disappointing annual performance, with the coin seemingly in a perfect technical position for a big surge.
And with observers suggesting that the SEC is holding a closed meeting tomorrow in order to discuss a potential settlement with Ripple, the XRP price could have a very good few weeks or months ahead of it.
XRP’s chart certainly looks very bullish right now, after spending most of the past week struggling.
Most notably, its RSI (purple) has leaped from around 45 earlier this morning to about 75 as of writing.
This signals massive buying pressure, as does the fact that XRP’s 30-day average (orange) has begun pointing upwards again after threatening to fall below the 200-day average (blue).
Most bullish of all is the coin’s trading volume, which has more than doubled in the past few hours.
This highlights just how fresh XRP’s breakout is, yet some traders and analysts had been predicting big things for the alt for days if not weeks now.
This past week saw noted XRP holder and educator Edo Farina suggest that XRP could potentially rise to $1,000 in the more distant future.
$XRP monthly Bollinger Bands are the tightest ever
Tighter than before the historic 60,000% rally that ended in early 2018 pic.twitter.com/OFTTkcDxDU
— Tony "The Bull" Severino, CMT (@tonythebullBTC) July 30, 2024
And as recently as last night, Tony ‘The Bull’ Severino pointed out that XRP’s Bollinger
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