XRP Price Prediction: XRP Jumps OVER $0.50, Renewed Hope?

The price of XRP has recently decreased by 0.5%, falling below the critical support of $0.50, as the broader market remains stagnant. Currently priced at $0.51, XRP has witnessed a 6.8% rise over the past week. Nonetheless, it has surged by 45% since the onset of the year. What’s next for XRP? Read on to know more in this XRP price prediction.

Analysts attributes XRP’s recent setbacks not to its intrinsic qualities, but to prevailing market uncertainties. Such dips, therefore, are perceived by many as promising investment opportunities, hinting at the potential for recovery.

XRP Price Analysis: Is XRP Price UP?

Over the past few weeks, XRP’s technical indicators have plateaued, hinting at an impending rally. Most prominently, its relative strength index has hovered around the 30-mark since mid-August, indicating it’s significantly oversold and likely undervalued compared to its recent pricing.

In a previous article, we showed how the $0.475 presented a strong support area and XRP can rebound from this price. Today, we can see in the figure above that this is exactly what happened.

Market Activity and Trading Volume

With a 24-hour trading volume nearing $400 million, there’s a modest uptick in market engagement and trader interest around XRP. However, a closer examination suggests a possible skew towards selling, given the recent data indicating significant XRP transfers by large holders to exchanges.

Still, given XRP’s robust foundation and Ripple’s well-established market position, a further positive momentum shift is anticipated.

XRP Price Prediction as Ripple hints at further WINS

Ripple has been on an expansion trajectory, particularly after its favorable judgment against the SEC in July. This progress is evidenced by its recent acquisition of the crypto-centric firm, Fortress Trust, enabling Ripple to diversify beyond just cross-border transactions. This strategy was further confirmed by its May purchase of the crypto custody entity, Metaco.

Considering these strategic advancements, market watchers anticipate XRP’s price might ascend to $0.60 in the upcoming months, possibly touching the $0.70 mark, or even higher, by year-end.