XRP Price Prediction as Ripple Expands in Africa – Will Custody Services Boost XRP Above $0.52?
The XRP price has gained by 0.5% in the past 24 hours, rising to $0.5209 on a day when the crypto market as a whole has risen by the same percentage.
XRP is now up by 1% in a week and by 3.5% in the last 30 days, with the major alt also sitting on a modest 16% increase in the past year.
This pales in comparison to the returns posted by other major tokens in the past 12 months (e.g. BTC, ETH, SOL), yet it also raises the possibility that XRP could compensate by enjoying some above-average gains later in the year.
And with Ripple’s MD for the Middle East and Africa revealing in a talk that the firm plans to expand deeper into the region, the XRP price could see sustained rallies in the coming months.
XRP’s chart is looking promising today, with the coin looking ready to post some more gains today after dipping a little overnight.
What’s interesting is that the coin is about to test its resistance level (red), which stands at around $0.525.
If it can decisively break through this ceiling, then it may extend its gains into the weekend.
Other indicators suggests that this is quite possible, with XRP’s relative strength index (purple) rising towards 70 once again after sinking to 50 in the very early hours of the morning.
Similarly, the alt’s 30-day moving average (orange) is also rising again, having crossed over the 200-day average (blue) late on Wednesday evening.
The coin’s 24-hour trading volume has also risen in recent days, with its move close to $1 billion suggesting an elevated interest in the token.
There are various reasons to be bullish about the XRP price, with the first being the general direction of the wider market, which after a lull in mid-spring looks ready to grow again.
Yet there are also fundamentals factors at
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