XRP’s Potential to Surpass $1 in 16 Days
Crypto analyst Crypto Insight believes that XRP could soon surpass the $1 mark within the next 16 days. This prediction is based on the momentum of XRP’s Relative Strength Index (RSI) and open interest, which indicate a bullish trend.
XRP Weekly Relative Strength Index
According to Crypto Insight, XRP’s weekly RSI is gaining traction towards entering a bullish zone. The RSI chart shows that whenever the RSI line crosses above the RSI-Based MA line, it indicates rising momentum and a bullish trend. XRP experienced this cross in July, leading to a surge in price.
However, during the correction that followed, the RSI line fell below the RSI-based MA line. Now, it is attempting to traverse above it again, presenting a bullish sign.
Potential Resistance Level
Crypto Insight speculates that XRP might be touching a resistance level at the time of his disclosure. Breaking through this resistance level could provide XRP with the force it needs to enter the target price range.
Target Price Range
The target range set by Crypto Insight is between $0.8875 and $1.3617. He believes that XRP could reach this range in the next 16 days since it almost reached the $1 mark during the July rally but faced significant resistance.
Increase in Open Interest
Crypto Insight also highlights XRP’s open interest in his projections. Open interest refers to the number of pending futures contracts for a cryptocurrency. An increase in open interest indicates growing market participation and can potentially trigger a price rally for XRP.
Hot Take: XRP’s Potential for a Bullish Trend
Based on the analysis of XRP’s RSI and open interest, Crypto Insight predicts that XRP has the potential to surpass $1 within the next 16 days. The bullish momentum indicated by the RSI chart and the potential resistance level could provide the necessary push for XRP to break into the target price range. Investors should keep a close eye on XRP’s performance in the coming days as it approaches this critical mark.
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