XRP Price Prediction: Ripple's XRP Surges 9% - Is A Comeback Imminent? 📈

XRP Price Analysis: What to Expect

The past 24 hours have been good for XRP, with a 4% rise in its price to reach $0.5730. Trading volume has surged 15%, reaching $1.79 billion. This upward trend is part of a larger 9% increase in the last seven days where many altcoins, including XRP, are recovering along with the Bitcoin price rally. This decision is in line with Ripple’s recent announcement of its acquisition plans of Standard Custody, seen as a strategic move to enhance the demand for XRP Ledger’s services. With these events, it raises the question: Is XRP gearing up for a new rally as we near the bull run?

XRP Price Is Bullish, Breaks The Upper Boundary Of The Falling Wedge

XRP Price Chart Analysis Source: Tradingview.com — XRPUSD Chart Analysis Source: Tradingview.com

Since November 2024, XRP has been on a downtrend, forming a falling wedge. Recently, the bulls managed to break through the wedge’s upper boundary with support found at $0.57. Currently, XRP is on an uptrend, approaching the $0.600 target, marking an approximate 10% increase. It is also trading above both the 50-day and 200-day Simple Moving Averages (SMAs). The Relative Strength Index (RSI) is also moving upwards from oversold conditions towards 65, indicating a bullish trend for the price. The Moving Average Convergence Divergence (MACD) line (blue) is trading above the signal line (orange), further supporting a bullish trend.

XRP MACD

The XRP price long-term analysis shows signs of continued bullish momentum. The bulls may drive the price higher, targeting $0.75, sweeping through the resistance at $0.60. However, the 200-day SMA is trading above the 50-day SMA, forming a death cross at $0.5871. This could signal an upcoming correction, allowing the bears to drive the price down to reclaim the $0.49 support.

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