XRP Price Prediction as XRP Jumps 10% to $0.60 Level – Here’s What’s Coming Next
The XRP price has declined by 2% today, with the wider market suffering as a New York court finds FTX founder Sam Bankman-Fried guilty of fraud.
Despite its drop, XRP has held to the $0.601658 level, marking a 10% gain in a week and a 15% jump in a fortnight.
The coin has also risen by 76% since the beginning of the year, with Ripple’s legal successes and hope surrounding Bitcoin ETFs largely responsible for this increase.
Such a gain has provided XRP with considerable momentum, which is likely to ramp up as the cryptocurrency market sees out the year.
Despite today’s dip, XRP’s indicators remain strong, signalling ongoing momentum.
Its 30-day average (yellow), for example, recently climbed over its 200-day average (blue), providing a sign of an imminent breakout.
It’s also encouraging that XRP’s RSI (purple) remains above 70, another indicator of firm buying pressure that could support its price in the next few days.
Other positive signs include a rising support level (green) and a relatively high 24-hour trading volume, which stands at around $1.5 billion, in contrast to $300m in early October.
As such, it’s relatively safe to say that XRP market activity remains elevated, such that the coin could push further in the coming days.
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