During the last few days, the Cryptocurrency market remains in an explosive upward trend, with the main tokens reaching significant rallies.
In this work, we present a technical analysis of the price of the Ripple token, XRP. In that sense, we try to answer one of the most constant questions about this currency: Will it reach $1? If you want to know the possibilities, we invite you to continue reading this note.
A look at XRP technical analysis
In the following lines we approach the XRP token from an exclusive technical analysis point of view. In this way, elements of contextual or fundamental influence that generally have an impact on prices are left aside.
In the analysis of the CoinCodex portal, 34 technical indicators were applied to this currency. Of these, a total of 29 point in the bullish direction and only 5 in the downward direction of the price. Meanwhile, the fear and greed index reads 88/100, confirming a trend of extreme greed.
The token offered green numbers on 17 of the last 30 days. Thus, the chances of winning are 57%. Volatility is 7.3% in 30 days.
Meanwhile, key XRP technical analysis indicators such as the 30-day and 50-day SMA are clearly positive. Meanwhile, the Relative Strength Index (RSI) reflects an overbought position of 78.55. It should be noted that overbought corresponds to a score of 70 upwards, while oversold is when it scores 30 or less.
Ripple token (XRP) year-on-year performance. Source: CoinMarketCap
At the same time, the other striking element of this analysis, the market sentiment index, is clearly optimistic. As shown in the image below, 85% have bullish expectations, while 15% assume that the price of the token will decrease.
Market sentiment index for the XRP token. Source: CoinCodex
Price prediction
With the above data in perspective, we can move on to investors’ most recurring question: Will XRP reach $1 and, if so, when? Before moving on to price forecasts, it should be kept in mind that these correspond only to technical analysis, that is, to historical behaviors expressed in the charts. Any contextual news event can completely alter these predictions.
The price of XRP is expected to reach $0.9 within about a week from now. Meanwhile, there are no possibilities of setbacks in sight. Thus, until next Thursday, November 21, the currency would grow by 22.27% from the current price. In one month its performance would be +12.2%
XRP price projection within 30 days. Source: CoinCodex
In a slightly longer term, a significantly bullish performance is expected by 2025. By May, the currency would reach $1.50 dollars in the moderate scenario. In the image below you can see the month-by-month forecast in bearish, average and bullish scenarios.
XRP price prediction for 2025. Source: CoinCodex
Elements to take into consideration
- The predictions of this work are exclusive to the CoinCodex portal and not CriptoTendencia. Performance and price data were taken from CoinMarketCap and Messari.
- Predictions about the Ripple token (XRP) are based on technical analysis, that is, historical data. Thus, these could change in the event of unforeseen news.
- XRP is the native token of Ripple, a network whose goal is to become a global payments system. Although it is a successful network, since 2020 its rise has been boycotted by a lawsuit from the SEC.
Disclaimer: This prediction is based on historical trends and technical analysis. Cryptocurrency prices are highly volatile and can be affected by external factors. Investors should do their own research before making investment decisions.
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