XRP Price Prediction as $1 Billion Trading Volume Comes In – Is XRP Making a Comeback?
The XRP (XRP) price is trying to make a comeback as more than $1 billion in 24-hour trading volumes flood in. Near-term price predictions could become much more bullish if the crypto can push to the north of its 21DMA and a key long-term uptrend.
24-hour trading volumes were last at $1.32 billion, the highest in three days.
XRP was last trading just under $0.55 and eyeing a test of its 21DMA at $0.5530. If it can break above this level, a retest of 2023 into 2024 uptrend in the $0.57 area.
Around this area, many XRP bears will potentially be looking to add to short positions. After all, XRP’s break below its long-term uptrend was a very bearish sign.
That could mean elevated sell pressure and any recovery back toward $0.57 could be short-lived.
But if XRP can rally back above this long-term uptrend, that would suggest the latest dip was a fake-out.
A rally toward the late 2023 and early 2024 double top around $0.75 would be on the cards.
Given that the broader cryptocurrency market could be shaping up for a rally post-halving, the possibility of XRP upside shouldn’t be dismissed.
Macro headwinds appear to have abated before the release of US Core PCE inflation on Friday. And Bitcoin (BTC) is looking perky after the halving, having pushed back above $66,000.
BREAKING: #bitcoin has reclaimed $66,000
— wallstreetbets (@wallstreetbets) April 22, 2024
XRP bulls will be hoping that the latest XRP price upside marks the start of a comeback for the cryptocurrency.
Indeed, XRP has been sluggish in recent months. While Bitcoin and Ether (ETH) went up 56% and 40% in the past 90 days, XRP dropped 12% in the same timeframe.
Some potential fundamental tailwinds could soon come in to help XRP close this gap.
Firstly, Ripple recently announced plans
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