XRP Price Shows Upward Trend: Potential Rise to $1.4 Predicted

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The Most Important in Brief

After a challenging week, the XRP price showed slight upward trends, which could suggest that it could soon reach the marks of $0.5 or $0.6. The increase in buying pressure on XRP in the last week and the bullish market indicators could be of interest to investors. We take a closer look at the current state of XRP to predict its possible price development.

Current State of XRP

According to data from CoinMarketCap, the XRP price fell by more than 9% in the last seven days but recovered slightly in the last 24 hours. At the time of analysis, XRP was trading at a price of $0.4359, with a market capitalization of over $24.2 billion. Analyses of Santiment data showed that investors began to accumulate more tokens despite the low price, which was reflected in a decrease in supply on the exchanges. In addition, the activity of the whales around the token remained high, which together with an increase in trading volume could form the basis for a possible future rally.

XRP Price Forecast

An analysis of XRP’s daily chart showed that the price touched the lower limit of the Bollinger Bands, which often leads to price increases. The Relative Strength Index (RSI) and the Chaikin Money Flow (CMF) also showed an ascending trend, indicating a soon price increase. In the short term, the value of XRP, if it becomes bullish, could soon reach $0.493. A successful breakout above this mark could bring the token to $0.526 in the coming days.

Looking for long-term price targets, the weekly chart analysis revealed a falling wedge pattern. A breakout above this pattern could bring the token to regain $0.66. Moreover, a jump over this mark could bring the token to $1.4 in the following months.

Our Assessment

The recent developments and analyses around XRP suggest a possible positive price movement, both short and long term. While short-term gains are certainly within the realm of possibility, investors should also keep an eye on the long-term outlook, which appears quite promising. As always, it is important to conduct your own research and make investment decisions based on a variety of information sources.

Sources: CoinMarketCap, Santiment, TradingView, Hyblock Capital

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