Ripple’s XRP could be getting ready to close 2024 on a strong note as various technical and fundamental indicators are aligning to make this a possibility.
One of the indicators, as noted by Mikybull Crypto, is that XRP volatility has fallen below the 2017 level. This means that a major breakout and rally could be coming, similar to those experienced in 2017 and 2020.
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Fantonshi 100x, a crypto commentator, also mentioned that many meme coins have dipped below the 200-day moving average, but XRP keeps showing strength. This is seen as a sign of a long-term bullish outlook.
The commentator stated that it could be a sign that XRP will close strongly for the year.
Some other fundamental indicators could also make the price spike high. One of them is the upcoming launch of Ripple USD (RLUSD), which will be pegged 1:1 with the US dollar. The lawsuit against the SEC is also winding down already, and this is seen as a major catalyst for price increase.
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