XRP Price Prediction as Bulls Hold $0.48 Level – Where is XRP Heading Now?
The XRP price has dipped by 0.4% in the past 24 hours, amid a slightly bigger dip for the cryptocurrency market as a whole.
Despite today's wobble, XRP has held strongly to the $0.480 support level, with its price of $0.488240 representing a 3% gain in the last seven days.
The altcoin is also down by 8% in the last 30 days, although it remains up by 49% in the last 12 months, pushed higher by positve expectations surrounding Ripple's long-running legal case with the SEC.
With this case due to end in the next few months or weeks, XRP could be in for a big boost soon, with an assortment of legal opinion believing that Ripple has a good chance of securing a favorable outcome.
XRP's indicators suggest it could be close to experiencing a rally soon, with its 30-day moving average (yellow) climbing towards its 200-day (blue), in a sign of recovering momentum.
At the same time, XRP's relative strength index (purple) has regained steadily from 30 at the end of last month, with its level near to hitting 60 and with plenty of space to continuing rising.
If that weren't positive enough, the altcoin's support level (green) has risen strongly over the past week or so, suggesting that it won't be falling much lower anytime soon.
This all sets XRP up for a rise in the very near future, with the altcoin potentially set to regain $0.49, something which it did earlier this morning before being resisted.
As for the longer term, XRP's prospects remain very good, with Ripple still in line for a positive summary judgment or settlement.
According to one of the most recent interviews given by Ripple CEO Brad Garlinghouse, the company expects the case to have concluded in a matter of weeks, meaning that it could be wrapped up by the fall.
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