Analyst Predicts XRP Price Surge to $1.35 with Open Interest Increase and Trendline Breaks

Analyst Predicts XRP Price Surge to $1.35 with Open Interest Increase and Trendline Breaks


Rising XRP Open Interest Suggests Higher Price

According to a popular cryptocurrency analyst known as Cryptoinsightuk, XRP’s open interest, or the number of futures contracts not yet settled, recently surged by $100 million. This happened after a fake filing for a spot XRP exchange-traded fund was made. Despite XRP’s price drop, open interest stayed steady, indicating there are significant shorts on the cryptocurrency.

Potential Price Surge on the Horizon

With a break above its descending trendline, the price of XRP could go higher as people try to cover or close their short positions, leading to increased buying pressure. A bullish divergence suggests that XRP will enter the analyst’s target range between $0.89 and $1.35.

Anticipated XRP Price Movement

The cryptocurrency’s price predictions come at a time when XRP has been seeing a surge in price. An analyst also suggested that XRP could soon experience a “God candle,” a candlestick pattern that previously led to a 900% surge in price. If the pattern repeats itself, XRP’s price could rally up to approximately $11 from its current level of $0.638.

Hot Take: XRP Price Gains Momentum

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

The recent surge in XRP’s open interest could lead to a bullish move, with the potential for a substantial price increase. Keep an eye out for a breakthrough above the descending trendline in the near future.

Analyst Predicts XRP Price Surge to $1.35 with Open Interest Increase and Trendline Breaks
Author – Contributor at Lolacoin.org | Website

Ethan Glober emerges as a visionary weaving the roles of crypto analyst, relentless researcher, and editorial artisan into a captivating narrative of insight. Within the dynamic realm of digital assets, Ethan’s insights resonate like an intricate melody, resonating with curious minds from all walks of life. His ability to untangle the most complex threads of crypto intricacies seamlessly melds with his editorial finesse, transforming intricacy into a harmonious composition of understanding. Guiding both seasoned explorers and curious newcomers, Ethan’s insights serve as a compass for well-informed decision-making amidst the ever-evolving currents of cryptocurrencies. With the craftsmanship of a linguistic virtuoso, they craft narratives that enrich the evolving mosaic of the crypto landscape.