The native token of the Ripple network, XRP, has been on a rollercoaster ride. After a year marked by significant price swings and a high-profile lawsuit, XRP finds itself at a crossroads, trading stably above $0.62.
In the midst of uncertainty, many crypto analysts are still super bullish on XRP’s price. These analysts predict the coin will increase more than the $1 mark this year. Adding to this, there is more good news on the horizon. Technical indicators also point to a bullish outlook for XRP.
Let’s dive into what these indicators are saying and their influence on XRP price.
XRP’s Bullish Momentum Ignites: Technical Indicators Signal Buying Opportunity
The chart depicts a remarkable, bullish momentum for XRP, with the potential to surpass the resistance around $0.7487 even before the main bull run kicks in. Several technical indicators are signaling buy opportunities, further fueling the optimism surrounding the cryptocurrency.
Firstly, the Bollinger Bands and Relative Strength Index (RSI) indicate favorable market conditions. The price is currently trading above the SMA line in the BB indicator.
This suggests high buying pressure and an extended upward trend. Secondly, the RSI is sitting above 60, which means the buying strength is high.
This momentum could continue for the next few days if more buyers enter the market and the positive sentiment persists. Interestingly, other technical indicators signal bullish conditions.
The SuperTrend indicator is showing a buy signal, suggesting that now might be an opportune time to accumulate more XRP. Additionally, the Price Value Trend (PVT) indicator is above 1.23 billion, indicating bullish sentiment and upward momentum.
Considering all these, there’s a possibility of an XRP to break the resistance around $0.7487. This reinforces the positive outlook for XRP’s price trajectory. Meanwhile, besides this bullish prediction, several analysts are positive on XRP.
Renowned Crypto Trader Set Bullish Target for XRP
A well-known cryptocurrency analyst, EGRAG CRYPTO, has made waves with his optimistic predictions for XRP. Using technical analysis tools, EGRAG forecasted that XRP could hit $17 by May.
After that, the analyst predicts, it will soar again to $27 by November. Note that his projections are based on patterns like the ascending triangle, which he believes indicate impending bullish movements.
Memory updated#XRP May 2024=$17 or November 2024=$27!!!!
I do not like the game of timing; it’s like throwing darts blindfolded. Guessing the market’s timing is challenging. However, I’ll take a shot and state the following:
A) White Ascending Triangle: ⬜️
The breakout move… pic.twitter.com/pZlDv34FB0
— EGRAG CRYPTO (@egragcrypto) March 10, 2024
EGRAG feels sure because he studied Bitcoin and thinks it might dip a bit before going up again. He sees this as a catalyst for XRP’s breakout, creating a window of opportunity between April and July for the coin to surge. The second phase of his prediction relies on a continuation of the bullish trend.
EGRAG envisions this rally extending into 2025, driven by a utility bull run. Overall, EGRAG focuses its analysis on Bitcoin price movement. He sees Q4 2024 and Q1 2025 as perfect moments for XRP to benefit from Bitcoin’s action.
With XRP currently trading around $0.626, according to CoinMarketCap data, EGRAG’s outlook suggests significant potential gains for investors. As the next twelve months unfold, mastering strategies like dollar-cost averaging could be essential for those eyeing XRP.
However, EGRAG is not the only analyst seeing potential gains in XRP’s price in the coming weeks.
Expert Views on XRP’s Bullish Trajectory
No appeal will disturb the finding XRP itself is not a security. You are correct the SEC said it will not appeal that finding. The market took it into account as the short term price rises showed.
I think the market did care about the lawsuit but the impact on XRP price was baked… https://t.co/CNj7uUR9Bj
— bill morgan (@Belisarius2020) March 8, 2024
Legal expert Bill Morgan, known for his support of XRP, has predicted that XRP will surpass its previous all-time high of $3.84, regardless of the ongoing lawsuit. In a different tweet, Morgan said that this optimism comes as Bitcoin reaches record highs, indicating a favorable time to invest in XRP.
Even though Morgan is sure about XRP’s success, a user named Sherrie is worried. The X user is afraid that the lawsuit might cause XRP’s price to go down. However, XRP influencer Moon Lambo reassures investors that the market is unconcerned about the lawsuit’s outcome.
Overall, Morgan acknowledges the lawsuit’s significance but believes it won’t hinder XRP’s growth. He suggested that once the lawsuit concludes, XRP’s price could see a boost, driven by expectations related to regulatory clarity and market access. These insights from influential figures in the crypto community shape investor sentiment towards XRP.
As investors weigh the potential risks and rewards, they might decide to spread out their money in different ways to lower risks. While XRP gears up for some price growth, investors can explore a new coin-making wave in the crypto market, potentially offering investors significant returns.
XRP Alternative: Green Bitcoin – The Next Low-Cap Gem to Make You Rich
With staking and inherent utility, Green Bitcoin has become the talk of town since its presale launch. This demand is driven not only by active community interest but also by expert analysts behind the project.
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Also, Jacob Bury called it an “altcoin gem” stating the coin could multiply by 10x after its IEO. Green Bitcoin is eco-friendly compared to Bitcoin. It launches on Ethereum and uses staking instead of mining. Recall that media outlets are always kicking against mining for its wasteful and unnecessary usage of energy.
Based on this, Green Bitcoin is drawing attention at the moment. However, Green Bitcoin’s eco-friendly nature isn’t the only reason people are attracted to the project. Most investors are interested in its unique features. One of these is a predict-and-earn system.
This feature gives users the opportunity to predict Bitcoin’s next movement. If the person is right, they get rewarded in $GBTC tokens.
However, to join, users need to stake $GBTC, which makes the token scarce and potentially influences the price positively. Interestingly, you don’t just stake your token for nothing. Stakers earn a 142% yearly return until more people stake before it drops.
Also, the price for Green Bitcoin in the presale is designed to go up as the campaign continues. So, for investors seeking an alternative to XRP, Green Bitcoin presents an eco-friendly option with staking rewards and unique utilities.
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