XRP Price Prediction as Technical Indicators Signal Bullish Turn – Surge Imminent?
The XRP price has risen by 1.5% in the past 24 hours, climbing to $0.5227 on a day when the cryptocurrency market as whole enjoys a 3% lift.
XRP has now risen by 3.5% in a week, yet the major altcoin actually remains down by 7% in the last 30 days, an underperformance relative to its peers.
Yet with the coin still up by 30% in a year, and with the prospect of a final conclusion to the Ripple-SEC case this year, the XRP price could recover strongly in the coming months.
XRP’s indicators are finally pointing to some renewed momentum after weeks of decline, with the coin’s relative strength index (purple) close to touching 50 today.
Given that it had stood at 30 as recently as the end of January, this recovery is encouraging, in that it points to incoming gains.
Similarly, XRP’s 30-day average (yellow) looks to have bottom in relation to its 200-day average (blue), which the coin’s current price looks like it will soon climb over both averages.
In other words, XRP could be entering an expansionary period, with the coin’s discounted price proving highly tempting to traders.
Its trading volume supports this view, in that it has risen from $500 million at the start of the week to more than $800 million today.
However, one negative is that larger traders still seem to be sending XRP to exchanges at the moment, suggesting that they’re preparing to sell.
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