- XRP Price Prediction suggests a massive increase is possible in next year.
- The XRP crypto price might enter a bull run after $0.5600 breakout.
- The XRP price sustains above the 50 and 200 day EMA and displayed a golden crossover.
XRP Price Prediction suggests a massive increase is possible XRP crypto after $0.5600 breakout. The XRP price has formed a strong base near $0.3500 and begins the recovery mode by forming higher high swings.
XRP crypto price displayed a golden crossover and sustains above 50, 200 day EMA shows strong uptrend. The EMAs are sloping upward denotes the positive momentum has just begun and the rally is likely to continue for coming months.
XRP Price tried multiple times to break the $0.5600 but got rejected. It shows that strong sellers are active. However, this time the attempt looks powerful and investors expect the prices to hold the higher levels.
The breakout in XRP Price will fuel the rally and a journey toward $1.00 is possible in a short span of time. This crypto might outperform in the 2nd half of 2023 and may generate nominal returns for its investors.
XRP price is trading at $0.5543 with an intraday rise of 5.56%. The 24 hour volume to market cap ratio is 0.0505.
The pair of XRP/BTC is trading at 0.00002129 with an intraday rise of 4.98%. The price pattern of both the pairs is bullish and buyers seem to be returning back to the track.
XRP Price above $1.00 by the end of 2023
XRP Price is trying to break out of its 10 month high. The buying volume is also increasing shows that some genuine investors are creating long positions which increases the possibility of breakout.
If the break out happens then we may say that the bull run in XRP has begun and prices my test $1.00 in coming months. The bigger bull run will trigger when XRP crypto breaks the $1.00 and sustains the higher levels.
On the other hand, if the price faced rejection then it might again retrace toward the 50 day EMA. Any short term downfall will be easily absorbed by the buyers at support zones.
The technical analysis suggests, XRP price is in bulls grip and a massive rally is possible if buyers are able to hold $0.5600 breakout.
Support levels are shifting higher in XRP crypto
XRP crypto showed a sharp bounce from the $0.400 support. It formed a bullish hammer candle on the weekly timeframe showing the strength of the bulls. The support levels are shifting higher and higher indicates bears losing the grip facing difficulty to pull the prices down.
The technical indicators like MACD curve is sloping sideways denotes consolidation but if breakout happens then it might slope upward. The RSI at 63 rising upward denotes strength of bulls and more room for upside is open.
Conclusion
XRP Price Prediction suggests a massive increase is possible after a $0.5600 breakout. If the breakout happens then it will be the beginning of a bull run. The technical analysis suggests, XRP crypto is in uptrend and likely to outperform in coming months.
Technical levels
Resistance levels: $0.6000 and $0.6500
Support levels: $0.4000 and $0.3488
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.