In a major boost to it’s price and ecosystem, xrp has prevailed in a major battle with the sec. This can be a start of big rally in this crypto coin.
In this article, we will discuss XRP price prediction along with weekly analysis and news roundup.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
XRP Price Prediction
XRP is trading at approximately $0.6176. This marks a slight increase of 0.92% from the previous day, where it hit a session high of $0.6346. Despite the ongoing volatility, XRP remains above its critical moving averages, indicating a potential bullish trend if it breaks past the resistance level at $0.6609.
The price is moving above the horizontal support zone of the descending triangle. We have to wait for a successful breakout or breakdown.
Indicators
- Resistance Levels: The immediate resistance level for XRP is at $0.6609. Breaking this could lead to testing the $0.70 handle.
- Support Levels: Key support is at $0.5740.
- RSI and EMA: The RSI is around 50. XRP remains above the 50-day and 200-day EMAs, indicating a longer-term bullish trend despite short-term fluctuations.
Weekly Price Analysis
Over the past week, XRP has experienced fluctuations primarily due to the ongoing legal battle with the SEC. The price has seen both dips and recoveries, with a notable slide of 4.48% last Friday, which it partially recovered from on Saturday.
Guaranteed Lowest Fees – Try Bybit
The critical support level lies around $0.5740, and maintaining above this could lead to further gains.
News Roundup
- SEC vs. Ripple Lawsuit: The lawsuit between the SEC and Ripple continues to influence XRP’s market behavior.
- Whale Movements: Significant transfers of XRP tokens have been observed, including a recent 30.32 million XRP move to Bitstamp.
- Partnerships and Expansions: The National Bank of Georgia is expanding its partnership with Ripple, and 80% of Japanese banks have adopted Ripple’s blockchain for faster transactions.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
