The XRP token has seen intense discussion and debate recently around its near-term price outlook, with predictions spanning continued declines or a major bull run emerging.
What you'll learn 👉
Per analysis by altFINS:
- Near-term bias: Bullish
- Possible swing trade entry around $0.55
- Upside targets of $0.68, then $0.92
They note XRP has filled the upside gap from its July spike to $0.92, making lower highs in the process to form a downtrend. However, with the price approaching the $0.55 support level confluent with its 200-day moving average, a technical bounce could unfold.
However, predictions remain mixed from various analysts:
- Trader EGRAG sees potential for an explosive “90-day rally to $5” as part of a broader bull market unfolding.
- Meanwhile, XRP Captain highlights major XRP transfers between exchanges, suggesting “someone knows something huge” that could pump prices.
On the other hand, the altFINS assessment points to a still-intact downtrend in place in the short and medium-term timeframes. And with bearish momentum signals persisting, they appear more guarded against calling a new bull run already underway.
Source: altFINS – Start using it today
So XRP may remain at a crossroads currently, with its next directional move potentially significant in either confirming or denying the early bullish prognostications. The cluster of technical support around $0.50 to $0.55 could be an inflection zone to watch before a lasting trend becomes clear.
You may also be interested in:
- Why Is The Crypto Market Up Today?
- FINALLY! SEC Approves Bitcoin Spot ETFs from All Applicants
- Late to Cash in on Arbitrum? This Presale Token Could be a 2024 sensation
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters