XRP Price Prediction as Price Sees 1.19% Increase in 24 Hours: Time to Buy or Just a Fluke?

cryptonews.com:

The XRP price has risen by 1.2% in the past 24 hours, climbing back to $0.494007 on a day when the wider cryptocurrency market has also recovered a little from last week's damage.

XRP remains down by 1% in a week and by 5.5% in the past fortnight, with the altcoin holding onto a 45% gain since January 1, in line with several other major tokens (e.g. BTC, ETH, SOL).

Given how oversold XRP has been in recent weeks, it's highly arguable that today's small recovery marks the beginning of the an overdue turnaround in the altcoin's fortunes.

And with XRP's fundamental position remaining as strong as ever, it could be in line for a big recovery once the wider market becomes more bullish in the coming weeks.

XRP's indicators are in a position from which assets can often bounce back strongly, with the coin's relative strength index (purple) beginning to rise towards 50, after several days spent in an oversold region.

While XRP's 30-day exponential moving average (yellow) hasn't turned positive yet, its position below the token's 200-day average (blue) would imply that the recent downturns have bottomed out.

This view is also boosted by XRP's medium-term support level (green), which has been rising for several weeks, with the coin's current price leaving it behind quite rapidly in the past couple of days.

This all suggests that XRP's momentum is beginning to increase again and that the token may be on the cusp of a much-needed recovery.

Yet recent whale action may suggest that XRP remains in a selling phase, with the overal bearish of the cryptocurrency market still potentially dragging the coin down in the near future.

Either way, XRP's future continues to look highly positive, given that its status as not a security was recently upheld