In a recent tweet, renowned trader TraderSZ @trader1sz announced that XRP is over halfway to its first target, sparking a wave of anticipation in the crypto community.
The tweet, which quickly garnered significant attention, has added to the growing excitement around Ripple’s native cryptocurrency. TraderSZ anticipates a potential decline in XRP’s value to $0.44, following its departure from the ascending triangle pattern. This suggests that they intend to refrain from purchasing until the price reaches this specified level.
XRP has been making headlines in the crypto world, especially after a U.S. judge ruled on July 13, 2023, that Ripple Labs’ sales of XRP on public exchanges did not violate securities laws. This ruling led to a 78% surge in the price of XRP, further fueling the bullish sentiment around the coin.
The price action of XRP in July 2023 has been nothing short of a rollercoaster ride. The coin started the month strong, surging from $0.300 to $0.5298, marking a rise of more than 75% on the charts. This surge was largely attributed to Ripple’s court victory, which significantly boosted investor confidence in the coin.
The highest price of XRP in July 2023 was recorded at $0.8, while the average price for the month hovered around $0.75. However, the coin experienced a bearish price movement as of July 24, 2023, with a decrease in price observed as the coin failed to find support.
Looking ahead, short-term price predictions by AMBCrypto suggest an average price of $0.51 for XRP in August 2023, with the highest possible price being $0.55. Meanwhile, Cryptopolitan’s XRP price prediction suggests a minimum price of $0.55 and an average trading price of $0.57 for 2023.
Despite the recent bearish trend, the overall market sentiment remains positive, with many investors and traders eagerly watching XRP’s price action. As the coin continues its journey towards its first target, the crypto community waits with bated breath to see what the future holds for XRP.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com