XRP Price Prediction as Bulls Hold $0.37 Level – Can XRP Reach $1 Soon?
The XRP price stands at $0.372400 this morning, having risen by 1.2% in the past 24 hours in the context of a 2% increase for the market as a whole.
Its current price means that XRP has fallen by 2% in a week and by 1% in the last 30 days, although the altcoin has gained by 9.5% since the start of the year.
While Ripple had reported some exposure to Silicon Valley Bank, which was placed under federal receivership on Friday, CEO Brad Garlinghouse disclosed that the company expects no disruption to its day-to-day business.
This seems to have steadied XRP's price action in the past few days, while it has also benefitted along with the market from federal intervention to stabilize the ongoing banking crisis.
And with Ripple awaiting a decision in its case with the SEC later this year, it could be in line for some of the biggest gains of any major token in the next few months.
XRP's indicators currently find themselves in a promising position, with its 30-day moving average (red) looking as though it could begin rising toward its 200-day (blue)
Such a move would indicate a breakout rally, the possibility of which is also supported by XRP's relative strength index (purple), which is still in an oversold position.
This means that it's due a correction to more bullish territory, something which could very easily happen in the coming days.
XRP had actually risen as high as $0.386898 within the last 24 hours, making for a 7% compared to where it was on Monday.
However, yesterday's market-wide rally has lost some steam in recent hours, yet the coin has held to its $0.37 support level.
Assuming it keeps its support, this will provide it with the foundation to move higher in the coming days and weeks.
Arguably, XRP is primed for an
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