The crypto markets are currently in a consolidating phase, with Bitcoin struggling to break past the $30,500 mark. Investors are wondering if XRP’s price is also following a descending trend. However, despite the low volume, XRP has shown strength and confidence in maintaining an upward trend. The platform has experienced a significant increase in user activity, signaling the possibility of a bullish wave. The active address count, which represents the number of addresses involved in trading activities, has also surged. In the past, when the active address count spiked, the XRP price saw a jump of over 20% to 25%. Currently, with the price hovering around $0.476, it is expected that the upcoming bullish wave could push the price close to $0.58. The XRP price is trading within an ascending triangle pattern and attempting to rebound from the lower support. The RSI indicator is also showing signs of a rebound, and the MACD is nearing a bullish crossover, which could further boost the price in the coming days. If the ongoing Ripple vs SEC lawsuit concludes favorably and a final decision is reached, it is anticipated that the XRP price could experience a healthy upswing beyond $0.6. This pattern is expected to continue throughout the month of July, possibly reaching its apex by the end.
Continue reading on Coinpedia.org
By
By
By
By
By