Can XRP Legal Wins Push Price to $1? Analysts Predict It Might Be Possible
XRP has dipped by 1.5% in the past 24 hours, slipping to $0.5886 as the crypto market loses 3% today.
The altcoin is now down by 3% in a week, and while it holds on to a 2.5% gain in the past fortnight it’s also down by 2.5% in a month.
Such percentages may be disappointing, but analysts are predicting that XRP is likely to break out soon, with some setting $1 as the coin’s target for next year.
Given that it remains up by only 11% in the past year, XRP is certainly due a big push, and we may see the beginnings of a rally very soon.
Possibly the most bullish thing about XRP’s chart at the moment is that it has been trading within a rising range, with the coin pushing its resistance (red) and support (green) level increasingly upwards.
And while the token has dipped in the past day, it looks ready to bounce back up again in the near term, with its relative strength index (purple) jumping from less than 30 this morning to just under 50 as of writing.
At the same time, XRP’s 30-period moving average (orange) fell below the 200-period average (blue) yesterday, providing another sign that the alt is getting closer to a rebound.
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