XRP Price Holds Support – Indicators Show Risk of Downside Break

XRP price is holding gains above the $0.60 zone. The price could gain bearish momentum if there is a close below the $0.570 support zone.

  • XRP is facing a major hurdle near the $0.6580 zone.
  • The price is now trading below $0.640 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance near $0.640 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could gain bearish momentum if there is a close below the $0.5720 support.

XRP Price Faces Uphill Task

After a steady decline, XRP price found support near the $0.5720 level. A low was formed at $0.5714 and the price started a fresh increase, like Bitcoin and Ethereum.

There was a move above the $0.5880 and $0.600 resistance levels. The price cleared the 23.6% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5714 low. The bulls pushed the price above the $0.620 resistance zone, but the bears are active near $0.640.

Ripple’s token price is now trading above $0.6320 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.640 zone. There is also a key bearish trend line forming with resistance near $0.640 on the 4-hour chart of the XRP/USD pair.

XRP Price

The next key resistance is near $0.6580. It is close to the 50% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5714 low. A close above the $0.6580 resistance zone could spark a strong increase. The next key resistance is near $0.700. If the bulls remain in action above the $0.700 resistance level, there could be a rally toward the $0.7440 resistance. Any more gains might send the price toward the $0.800 resistance.

More Losses?

If XRP fails to clear the $0.640 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 zone.

The next major support is at $0.5720. If there is a downside break and a close below the $0.5720 level, the price might accelerate lower. In the stated case, the price could retest the $0.5250 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.600, $0.5720, and $0.5250.

Major Resistance Levels – $0.640, $0.6580, and $0.700.

XRP ETF Premium Primed For Monumental Leap: Eyes Set On $500

XRP enthusiasts are in a frenzy after prominent community figure Chad Steingraber proposed a scenario where an XRP exchange-traded fund (ETF) could trade at a staggering 100x premium.

Steingraber, a seasoned game designer, laid out his thoughts in a recent post, igniting discussions about the potential trajectory of an XRP ETF, particularly in light of the ongoing push for institutional adoption of the altcoin.

Targeting A $500 XRP ETF Share Price

Steingraber’s speculation centers around the price at which an XRP ETF’s shares might trade. His hypothesis hinges on the crypto reaching an unprecedented price of $5 per coin. In this scenario, he theorizes that the corresponding ETF could soar to equally unprecedented heights, potentially reaching a solid $500 per share.

This hefty premium, according to Steingraber, would be fueled by a surge in institutional interest in the ETF. He cites the Grayscale Litecoin Trust (LTCN) as a prime example.

Similar to his proposed XRP ETF, LTCN trades at a significant premium over Litecoin’s current market price. Despite Litecoin hovering around $95, investors in LTCN are currently paying a premium of over $250 per Litecoin equivalent within the trust.

Can Arbitrage Opportunities Emerge?

The prospect of such a high premium has sparked discussions about potential arbitrage opportunities. X user Zack, in response to Steingraber’s post, questioned whether individuals holding XRP could exploit this price disparity. Steingraber acknowledged the possibility, particularly if the issuing ETF allows for in-kind deposits, where investors can directly exchange their token for ETF shares.

However, he cautioned that in-kind deposits are still a rarity in the ETF market. While Steingraber expressed optimism about the future adoption of this practice, its absence presents a hurdle for immediate arbitrage opportunities.

The XRP community has long advocated for asset managers, especially industry giant BlackRock, to launch an XRP ETF. They believe such a product would significantly bolster the value of XRP by increasing its accessibility to institutional investors.

A Speculative Outlook With Underlying Uncertainties

It’s crucial to remember that Steingraber’s vision is entirely speculative. As of today, no asset manager has taken concrete steps towards applying for an XRP ETF. Furthermore, the justification for such a high premium rests heavily on the assumption of substantial institutional demand, a factor that remains uncertain.

The applicability of the Grayscale Litecoin Trust comparison also requires further scrutiny. The specific structure and features of an XRP ETF would significantly influence whether a similar premium dynamic would emerge.

A Reality Check For Investors

While Steingraber’s prediction has certainly captured the community’s imagination, investors are advised to approach it with a healthy dose of caution. The approval timeline for an XRP ETF hinges on the US Securities and Exchange Commission’s stance on cryptocurrency ETFs.

Additionally, competition from other potential ETFs could play a role in determining the premium, if any.

Featured image from Freepik, chart from TradingView

XRP Price Enters Pre-Bull Rally Phase: Crypto Analyst Reveals Next Target

The XRP price has largely left many of its enthusiasts feeling dissatisfied during this bull cycle, as it has failed to reach the $1 mark despite the bullish sentiment surrounding cryptocurrencies. However, crypto analyst EGRAG CRYPTO believes a $1 XRP price is still possible in this cycle, as he predicted a price surge in the near term. From this analyst’s technical perspective, recent price action has seen XRP forming a “W” pattern, making it ready for a massive push above $1.

XRP Price Pattern Signals A Potential Massive Move

XRP’s highest price so far this year is $0.718. The cryptocurrency now finds itself perambulating below the $0.65 price level and even falling to as low as $0.57 in the past seven days. This has prompted many investors and holders to feel frustrated and concerned about the poor price performance. 

Despite this lackluster performance, many analysts continue to hold on to a bullish price action for XRP. EGRAG, who is well-known for his bullish attitude on XRP, has, for the most part, encouraged his followers on social media to maintain their positive posture on XRP. His most recent technical analysis, which he shared on social media, indicates that the price formation of XRP has now established a bullish pattern, which has been responsible for significant price increases in the past.

This price spike is particularly based on a peculiar “W” pattern, which he highlighted on a 3-day candlestick chart of the XRP price. Interestingly, a detailed look into the chart shared by EGRAG shows that XRP embarked on the formation of this “W” pattern in July 2023. Now that the formation seems complete, the analyst noted that XRP could potentially surge to $1 on a standard scale and $1.2 on a logarithmic scale.

At the time of writing, XRP is trading at $0.63. A surge to $1 and $1.2 from the current price level would mean a 58.7% and 90.47% spike respectively. However, EGRAG also noted the possibility of the “W” pattern leading to a downturn. In his price chart, he highlighted a worse case scenario of XRP falling to $0.44518. 

What’s Next For XRP?

EGRAG is one of the many crypto analysts who are still ultra-bullish on XRP’s price trajectory. His long-term price projection for XRP is $27. Other analysts like Mikybull predict XRP can reach as high as $6.

Ripple’s lawsuit with the SEC seems to be nearing its end which could mean the end of a prolonged stunted price growth for XRP. As a result, we could see XRP surging to new highs very soon. Whether or not XRP reaches $27 or sets new records, many see it as an undervalued asset with significant upside potential. This fundamental growth could see XRP push to $1 for the first time since November 2021.

XRP price chart from Tradingview.com

Crypto Analyst Predicts XRP Price Will Rally 800% To $6, Here’s When

The XRP price continues to disappoint investors who expect that it would’ve crossed $1 by now since Ripple’s battle with the United States Securities and Exchange Commission (SEC) is nearing its end. However, this has not discouraged investors and traders who believe that there are big things in store for the altcoin.

Crypto Analyst Predicts XRP Will Reach $6

Pseudonymous crypto analyst Mikybull has been bullish on the XRP price for a long time, taking to X (formerly Twitter) to, once again, reiterate their stance that the altcoin is going to do well. At the start of March, Mikybull had put forward an analysis that showed that the XRP price is primed for an over 800% run.

At the time, the crypto analyst pointed out that XRP had broken out of a symmetrical triangle, which is bullish for the price. A similar breakout had taken place back in 2017 which led to an over 1,000% increase in the price, and Mikybull references in the analysis. However, like the rest of the crypto market, XRP ended up dipping as the Bitcoin price crashed from $73,000 to $61,000. But now that the market is starting to recover, the crypto analyst believes that the altcoin is primed for a big move.

Over the course of March, Mikybull has consistently talked about this prediction, especially as the price retested various resistance points. Then, on Monday, March 25, the crypto analyst shared another chart showing that the XRP price has completed its retest and is ready to move upward.

Mikybull shared that the targets for this move lie between $1 and $6, with the upper end of this target being an 833% move from its current price.

When Will The XRP Price Hit This Target?

While Mikybull does not present a particular timeframe in their analysis, the charts shared provide some insight into when they expect this move to occur for XRP. Just like in 2017, the crypto analyst expects the rally to take place in the same year as the breakout from the symmetrical triangle, which means it could happen this year.

The breakout could happen toward the middle of the year and this would mean that it would happen after the Bitcoin halving is completed. This is not surprising given that the Bitcoin halving is regarded as the ultimate bull signal and altcoins rally once Bitcoin’s price picks up.

Presently, the XRP price is showing a lot of strength after rallying 11.73% in the last week. It is currently trading at $0.648 at the time of writing, with a market cap of $35.5 billion, which makes its the 6th-largest cryptocurrency by market cap.

XRP price chart from Tradingview.com

Ripple Provided Major XRP Price Discounts To Select Investors, SEC Claims

In the XRP lawsuit, the US Securities and Exchange Commission (SEC) filed its motion for remedies and entry of final judgment against Ripple, proposing a suite of penalties that includes injunctive relief, disgorgement of profits, and a notable $2 billion in civil penalties today. But that’s not the whole story as the 210-page document contains some interesting statements and assertions.

Did Ripple Favor Select Institutional Investors?

One of the assertions made in the SEC document and pointed out by XRP community lawyer Bill Morgan was a key revelation that Ripple engaged in discriminatory pricing practices, offering substantial discounts on XRP tokens to a select group of institutional investors. This practice, the SEC alleges, created an uneven playing field, benefiting certain “favored” investors at the expense of others.

XRP community lawyer Bill Morgan provided a summary of this aspect, highlighting the potential damage to Ripple’s standing in the eyes of institutional investors. “The SEC’s brief is a possible problem for Ripple beyond this case. The SEC is able to argue that there were two groups of institutional sales investors (it calls them favored and unfavored) and Ripple offered one group significant discounts in XRP price over the other group that did not receive them,” Morgan noted via X (formerly Twitter).

He further delved into the SEC’s claim that such practices harmed the “unfavored” group of investors to the tune of $480 million, a figure based on assumptions that Morgan suggests need thorough examination. “The evidence of causation of this alleged harm seems thin,” he added.

The SEC’s filing goes on to argue that Ripple’s sales tactics, specifically the discounted sales to certain investors, directly contributed to downward pressure on the overall market price of XRP. This point is not just a matter of regulatory compliance but also raises the specter of legal action from those institutional investors who may feel aggrieved by not being privy to the same discounts.

Morgan also touched upon the ramifications of these actions being classified as investment contracts by the SEC, saying, “As these sales to institutions were found to be investment contracts, it means that this offering of discounts to some but not other institutions is the very disclosure according to the SEC that should have, and would have been made to the institutions, if the sales to institutions had been registered.”

He further noted that these claims by the SEC are also not great for the reputation of Ripple. “Not sure this revelation is great for Ripple’s reputation with institutional investors,” Morgan remarked.

Ripple CLO Alderoty Responds

Ripple’s Chief Legal Officer, Stuart Alderoty, also issued a broad response to the SEC’s filing via X, vehemently disputing the narrative presented by the regulatory body. Alderoty stated, “Our response will be filed next month, but as we all have seen time and again, this is a regulator that trades in statements that are false, mischaracterized and designed to mislead.”

He further attacked the SEC for its illegitimate reasoning, stating: “They stayed true to form here. Rather than faithfully apply the law, the SEC remains bent on wanting to punish and intimidate Ripple – and the industry at large. We trust the Court will approach the remedies phase fairly.”

At press time, XRP traded at $0.64365.

XRP price

Hold Onto Your Seats: XRP Primed For 90% Rally, According To Top Analyst

Renowned XRP analyst EGRAG has ignited a firestorm of excitement and skepticism with his bold prediction for the cryptocurrency. EGRAG, known for his bullish XRP stances, is calling for a potential 90% surge in the near future, with a target price of $1.20. This forecast hinges on a technical pattern identified by EGRAG – a “W” wave formation on XRP’s 3-day chart, which he believes historically precedes bull runs.

XRP Long-Term Outlook

The prediction has sent ripples through the XRP community. Enthusiasts are buoyed by the prospect of such a significant price jump. However, the forecast is not without its cracks. EGRAG himself acknowledges a potential worst-case scenario where XRP could plummet by 30% to around $0.44. This has some investors wary, questioning the possibility of a revisit to such lows.

Furthermore, EGRAG emphasizes that his bullish outlook extends far beyond the immediate future, projecting an astonishing long-term target of $27 for XRP by November. This audacious forecast is rooted in his meticulous analysis of XRP’s current moving averages juxtaposed with those observed during the remarkable price surge of 2017.

Drawing parallels between the two periods, EGRAG highlights the uncanny resemblance, hinting at the potential for history to repeat itself with a resurgence akin to the explosive growth witnessed in the past. He underscores the importance of considering historical patterns and market dynamics in shaping his optimistic perspective, indicating a belief in XRP’s capacity for substantial growth over the coming months.

Complex Market Dynamics

However, analysts urge caution when interpreting such technical indicators. While historical patterns can offer valuable insights, they are not guarantees of future performance. The cryptocurrency market remains notoriously volatile, and unforeseen events can drastically alter price trajectories.

Further complicating the picture is the ongoing legal battle between Ripple Labs, the company behind XRP, and the US Securities and Exchange Commission (SEC). The lawsuit’s outcome holds the potential to significantly impact XRP’s price. A favorable ruling for Ripple could pave the way for wider adoption and a subsequent price increase. Conversely, an unfavorable verdict could cripple investor confidence and send XRP tumbling.

Beyond the technical analysis and legal wrangles, XRP’s long-term success hinges on its real-world utility. XRP is designed to facilitate cross-border payments, offering faster and cheaper transactions compared to traditional methods. Widespread adoption by financial institutions for this purpose would be a major driver of XRP’s value.

Meanwhile, the asset’s recent price correction hasn’t deterred pro-XRP analysts, who believe this might be the start of a huge rally in the near future.

Dark Defender, an X user, pointed out that in the last six months, XRP has already seen two straight three-monthly green candles. A third candle of this kind, according to the analyst, would spark an exponential rise that raises the token’s price to between $1.88 and $5.85.

Featured image from Pixabay, chart from TradingView

XRP Price Prediction: Can Bulls Pump It Again To $0.75

XRP price found support at $0.5685 and started a fresh increase. The bulls could gain strength if they manage to push the price above $0.6560.

  • XRP found is attempting a fresh increase from the $0.5680 support zone.
  • The price is now trading above $0.630 and the 100 simple moving average (4 hours).
  • There is a key bullish trend line forming with support near $0.6440 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh rally if there is a close above the $0.6560 resistance zone.

XRP Price Eyes Fresh Surge

After a major decline, XRP price found support near the $0.5685 level. A low was formed at $0.5685 and the price started a fresh increase, like Bitcoin and Ethereum.

There was a move above the $0.5850 and $0.600 resistance levels. The price cleared the 23.6% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5686 low. The bulls pushed the price above the $0.640 resistance zone.

Ripple’s token price is now trading above $0.630 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.6560 zone. It is close to the 50% Fib retracement level of the downward wave from the $0.7442 swing high to the $0.5686 low.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first key resistance is near $0.700, above which the price could rise toward the $0.7320 resistance. A close above the $0.7320 resistance zone could spark a strong increase. The next key resistance is near $0.7440. If the bulls remain in action above the $0.7440 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance.

Another Drop?

If XRP fails to clear the $0.6560 resistance zone, it could start another decline. Initial support on the downside is near the $0.640 zone and the trend line.

The next major support is at $0.620. If there is a downside break and a close below the $0.620 level, the price might accelerate lower. In the stated case, the price could retest the $0.5685 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.640, $0.620, and $0.5685.

Major Resistance Levels – $0.6560, $0.700, and $0.7440.

Top Analyst’s Bold Prediction: XRP Set To Skyrocket 1,500%

XRP, the native token of Ripple, is stirring up excitement in the crypto market with analysts predicting a potential short-term price explosion. However, the extent and timing of this surge remain a point of contention.

In a recent analysis of the cryptocurrency market, several market analysts have expressed optimism about the short-term prospects of XRP, the digital asset associated with Ripple. These analysts believe that XRP could experience a substantial increase in price, potentially reaching new heights before the peak of the current market cycle.

XRP Bold Predictions: Fact Or Folly?

Capt Toblerone, a prominent crypto analyst, recently ignited the discussion with a bold claim: XRP could see a staggering 15-fold increase (1500%) before the current bull market reaches its peak. This translates to a price target of roughly $10 by July 2024, a significant leap from its current price hovering around $0.62.

Toblerone isn’t alone in his optimistic outlook. Analyst Jake Gagain believes a $5 price point for XRP is achievable in the near future, while crypto founder Nick envisions a more ambitious target of $10 by the cycle’s end. This bullish sentiment echoes the broader market expectation of a potential $5-$10 range for the altcoin.

The underlying rationale for this bullishness hinges on XRP’s historical performance. Back in late 2017, XRP witnessed a meteoric rise, culminating in its all-time high of $3.84. Analysts like Toblerone see parallels between the current market conditions and 2017, hoping for a similar price explosion.

However, a closer look reveals cracks in the bullish narrative. Toblerone’s previous prediction for Q2 2024 placed XRP within a range of $2.5-$11. With just ten days left in the quarter, achieving even the lower end of that prediction seems highly unlikely.

Analyzing The Divide

Furthermore, the article lacks any mention of concrete factors driving the anticipated surge. While past performance offers a glimpse into possibilities, it’s not a guarantee of future results. The cryptocurrency market thrives on innovation and adoption, and without evidence of significant developments for Ripple or XRP, the predicted price surge might be wishful thinking.

Not all analysts share Toblerone’s enthusiasm. Some, like Dark Defender and EGRAG, propose a more conservative range of $5-$17 for XRP in the coming weeks. This more measured approach acknowledges the inherent volatility of the crypto market and avoids relying solely on historical parallels.

The divided opinions highlight the importance of caution for investors considering XRP. While a price increase is certainly possible, the predicted 15x surge might be overly ambitious.

Featured image from Pexels, chart from TradingView

XRP Set For Rapid Rally, Target At $5 In The Short Term

XRP continues to maintain its spot as one of the leading cryptocurrency assets in the crypto market today after witnessing a notable rally starting the day at the $0.64 price mark, putting it in the limelight.

Although the price of XRP is still lagging behind its all-time high level of $3.30, some analysis indicates that it may soon start to rise toward its peak. Following the recent rise, several analysts anticipate XRP will rally even further and reach unprecedented heights in the upcoming months.

Short-Term Price Target Set At $5 For XRP

Jake Gagain, a cryptocurrency expert and trader, has made a daring prediction for XRP, noting that the asset could reach a new peak in this bull cycle. The analyst forecast delves into the crypto asset’s potential to move higher before and after the Bitcoin Halving event, which is expected to take place in April.

Gagain asserts that “XRP is one of the top crypto assets today.” However, “unlike other notable coins,” the coin achieved its all-time high record of $3.30 over 6 years ago.

Furthermore, Gagain claims that the token was unable to reach a new peak in the 2021 bull run due to its legal disputes with the United States Securities and Exchange Commission (SEC). 

In December 2020, the SEC charged Ripple with raising over $1.3 billion through the sale of XRP in an unregistered securities offering, which Gagain believes was the reason for the coin lagging behind in 2021. Another factor considered by Gagain was the massive number of tokens that “developers were dumping “on a monthly basis.” 

However, if the company manages to win the lawsuit, Gagain believes XRP could hit a new all-time high at the climax of the present bull cycle. As a result, the crypto analyst is placing his price target at the $5 threshold after the bull run ends.

According to Jake Gagain, the Bitcoin halving event is just around 30 days away, and the market is already showing strong momentum. Specifically, the entire crypto market cap is at $2.5 trillion, indicating an over 4% increase in the past day after a slow week.

Gagain also addressed a few other leading crypto assets in the market, predicting massive gains before the halving. These include Bitcoin (BTC) – the biggest digital asset, Ethereum (ETH), Solana (SOL), and Cardano (ADA).

$1 Target For April In Progress

Another crypto analyst optimistic about XRP is Dark Defender, predicting that a “$1 price mark by April is in progress.” This suggests that the coin could attain this level before the halving occurrence.

Dark Defender highlighted that as of February 28, the asset was trading at $0.58. Meanwhile, he expects XRP to be pegged at “$0.6462 by March 1, $0.77-$0.92 on March 13, and $1 by April.”

Given the new peak of $0.75, he believes the Fibonacci Levels in the short term will be at $0.9772-$1.5048, $2.3172. He expects his April targets to develop “if XRP maintains the $0.58 Orange Support level, which performed admirably.”

XRP

XRP Price Prediction: Bulls Aim For Fresh Surge To $0.70

XRP price found support at $0.5680 and started a fresh increase. The bulls are now aiming for a move toward the $0.700 resistance.

  • XRP found support near $0.5680 and started a recovery wave above $0.60.
  • The price is now trading above $0.620 and the 100 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance at $0.610 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh rally if there is a close above the $0.6560 resistance zone.

XRP Price Regains Traction

After a major decline, XRP price found support near the $0.5680 zone. A low was formed at $0.5684 and the price started a fresh increase, like Bitcoin and Ethereum.

There was a move above the $0.580 and $0.600 resistance levels. The price cleared the 23.6% Fib retracement level of the downward move from the $0.7440 swing high to the $0.5684 low. There was also a break above a key bearish trend line with resistance at $0.610 on the 4-hour chart of the XRP/USD pair.

Ripple’s token price is now trading above $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.6560 zone. It is close to the 50% Fib retracement level of the downward move from the $0.7440 swing high to the $0.5684 low.

XRP Price Prediction

Source: XRPUSD on TradingView.com

The first key resistance is near $0.700, above which the price could rise toward the $0.7440 resistance. A close above the $0.7440 resistance zone could spark a strong increase. The next key resistance is near $0.7650. If the bulls remain in action above the $0.7650 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance.

Another Decline?

If XRP fails to clear the $0.6560 resistance zone, it could start another decline. Initial support on the downside is near the $0.630 zone.

The next major support is at $0.600. If there is a downside break and a close below the $0.600 level, the price might accelerate lower. In the stated case, the price could retest the $0.5680 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.630, $0.600, and $0.5680.

Major Resistance Levels – $0.6560, $0.700, and $0.7440.

Crypto Analyst Says XRP Price Is Headed For $27 As 2017 Pattern Emerges

Popular crypto analyst EGRAG CRYPTO, known for his very bullish stance on XRP, has predicted that the XRP price is headed for $27 as a pattern from 2017 emerges again. The analyst made this prediction known in a recent post on social media to reflect that XRP is now mimicking a historical cross between the 20 and 50 Simple Moving Averages.

Interestingly, with XRP currently trading at $0.6079 amidst a lull market gain, EGRAG’s prediction represents a surge of over 4,300% from the current price levels. 

Analyst Points To Similarities Between 2017 And Current Market Conditions

A detailed look into EGRAG’s technical analysis points to a cross between the 20 SMA and 50 SMA, with the former crossing above the latter. Interestingly, this cross dates 50 bars on the weekly candlestick time frame, around 350 days ago.

Now, he pointed out that this scenario has only happened twice throughout XRP’s history with two different outcomes, and XRP could now go on the path of either outcome or it could play out something new in the coming days.

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The first time this type of cross happened between the two moving averages was in 2017. However, the price of XRP continued to consolidate for 49 weekly bars before going on a rapid and aggressive price surge to reach its current all-time high of $3.84. EGRAG called this ‘Cycle A’, likening the price action to a “rocket ship-style pump.”

The second time this type of cross occurred was in 2021. In this cycle, which he called ‘Cycle B,’ XRP went on a smaller consolidation for 32 bars before going on a lesser price surge than that of Cycle B. EGRAG believes that the current cycle, which he called “Cycle C,” mirrors that of Cycle A more than Cycle B, as there are no evident similarities in the patterns between the 20 SMA and 50 SMA. 

EGRAG, in his continuous spirit of ultra-bullishness, forecasted that the current cycle might break out by a factor of 10 times bigger than the one that was seen in Cycle A, which would indicate a target of $27. 

What’s Next For XRP Price?

EGRAG is one of the few crypto analysts who are still optimistic about XRP’s future. In a former analysis made in December 2023, he noted various scenarios of how XRP could surge past $1 in the first quarter of 2024 amidst a bull run ushered in by Spot Bitcoin ETFs.

Although the introduction of these ETFs undoubtedly attracted capital to the cryptocurrency space and propelled Bitcoin to yet a new record high, XRP’s price hasn’t increased all that much.

XRP crossed over $0.73 on March 11 for the first time since November 2023 but has been on a downfall since then with the formation of lower highs and lower lows. However, things could change into a strong bullish momentum very soon if XRP bulls continue to hold above the $0.6 price support. 

XRP price chart from Tradingview.com (Crypto)

Crypto Expert Reveals Why XRP Price Will Rise 1,700% To $10

Despite concerns about the XRP price performance in this market cycle, this crypto expert has elaborated on why he believes the crypto token will still record significant gains. He even predicts that XRP could rise to as high as $10

Why XRP Price Could Rise To As High As $10

Nick, the founder of Web3Alert, mentioned in an X (formerly Twitter) post that his price range for XRP in this market cycle is between $5 and $10. According to him, this is possible considering that there are predictions that ETH will rise to between $7,500 and $10,000 and Bitcoin will rise to between $100,000 and $150,000

Nick noted that the XRP price rising to between $5 and $10 would put its market cap at $500 billion and 1 trillion, respectively. That puts the crypto token’s market cap in a similar category to that of Bitcoin and Ethereum, which could be valued as high as $2.9 trillion and $1.2 trillion if their price predictions are fully actualized. 

In other words, Nick argues that XRP hitting these prices is not farfetched since there is still much room for growth for the two largest crypto tokens by market cap, Bitcoin and Ethereum. As those two tokens continue to increase in price, he expects XRP to follow suit. Interestingly, he opined that his XRP prediction is “conservative,” suggesting XRP could go way higher. 

Following Nick’s assertion, another X user remarked that comparing XRP to Bitcoin and Ethereum seemed out of place since BTC and ETH’s price prediction is just a 2x, unlike XRP, which will need to see a 10x in its price to hit those targets. Nick responded that this simply shows that XRP is undervalued and presents a great ROI opportunity in this cycle. 

The Belief In XRP’s Potential

Nick joins a list of crypto analysts who have expressed optimism about XRP’s potential in this market cycle despite its underperformance to start this bull run. Crypto expert Zach Rector also recently shared his belief and gave reasons why XRP is still bound to perform well in this bull market. 

Although he didn’t give any price prediction, he alluded to XRP’s fundamentals as one reason why he holds this belief. Meanwhile, technical analysts like Egrag Crypto have also made bullish price predictions for XRP heading into this market cycle. Egrag has even gone as far as suggesting that the XRP price could rise to as high as $27 at the peak of this bull run. 

At the time of writing, the XRP price is trading at around $0.58, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Crypto expert)

Market Turmoil? Not For XRP: 130% Volume Spike Stuns Investors

The surge in XRP trading volume has been significant, with multiple sources reporting substantial increases over a short period. On March 19, 2024, CoinMarketCap data revealed an increase in XRP’s trading volume by 130% to over $4 billion within 24 hours.

This surge occurred amidst a general market downturn, where XRP’s trading volume increase helped offset some losses experienced by other assets. Despite a slight decrease in XRP’s price to $0.605, the asset remained in the green over the last month, showing an increase of more than 8%.

Market Developments Trigger Spike

One of the key drivers behind this uptick in trading volume is a favorable court ruling between the US Securities and Exchange Commission and Ripple Labs. This ruling provided much-needed regulatory clarity for XRP, leading to major exchanges like Coinbase, Kraken, Bitstamp, and Binance.US either relisting or announcing plans to resume trading with XRP.

The increase in trading volume also reflects an uptick in investor enthusiasm for XRP. The trading volume spike, which at one point constituted over 22% of XRP’s market capitalization, indicates a strong wave of interest and confidence among investors. Additionally, an impressive price rally in XRP, with the price soaring by nearly 100% at one point, further fueled trading activity as investors capitalized on the price movement.

Exchange Listings Boost Trading Activity

The reopening or relisting of XRP on major exchanges post-court ruling played a pivotal role in boosting trading volume. Exchanges like Coinbase, Kraken, Bitstamp, and Binance.US reopening XRP trading provided traders with increased opportunities, contributing to the boost in overall trading volume.

In the past week, the price of XRP has experienced notable fluctuations, reflecting a mix of ups and downs in the cryptocurrency market.

According to Coinbase, XRP’s price has seen a 3% decrease in the last 24 hours and a significant 17% decline over the past week. This downward trend indicates a challenging week for XRP investors as the price struggled to maintain its position.

Varied Price Data From Different Sources

On the other hand, YCharts data presents a slightly different picture, indicating an XRP price of 0.6539 USD on March 19, 2024. This figure represents a 5.61% increase from the previous day and a significant 68% uptick from one year ago, showcasing a more positive outlook for XRP in the long term.

Investors and traders are closely monitoring XRP’s development as it works through the uncertainty in the market. A break below the 200-day moving average at $0.57 could be the first sign of impending market decline.

Featured image from iStock, chart from TradingView

Get Ready For Liftoff: XRP Set For 20% Surge Against Bitcoin, Predicts Analyst

Recently, a renowned figure in the crypto analysis sphere, CrediBULL Crypto, has spotlighted XRP with a bullish prediction. According to the analyst, XRP is on the verge of a significant rally that could surge its value against Bitcoin in the coming period.

XRP Price: Anticipating The Surge

CrediBULL Crypto has been closely monitoring XRP’s movements against Bitcoin. Through analysis, he observed an interesting trend within the XRP/BTC trading pair that suggests an upcoming uptick.

The key to this prediction is identifying an accumulation phase happening at a lower timeframe within a higher demand zone. This pattern is not new to the analyst, who has identified similar trends.

The insights provided by CrediBULL Crypto indicate a potential 15-20% rally for XRP against Bitcoin in the near term. Should the altcoin break through the next major resistance, which is pegged 35% higher, the analyst believes this could trigger a surge, rewarding investors with returns exceeding 100% against BTC.

A week before this bullish forecast, CrediBULL Crypto had already increased its position on the XRP/BTC pair, driven by an “RSI divergence” observed on the 3-day chart. Such divergences are often harbingers of a significant market turnaround, suggesting that the altcoin had entered a pivotal region ripe for a bullish reversal.

XRP’s Foundation For Growth

The potential for XRP isn’t just a matter of speculative trading. Other market experts have highlighted the cryptocurrency’s fundamentals. Zach Rector, a prominent voice within the crypto community, has also recognized the altcoin’s potential.

By drawing parallels with Bitcoin, Rector points out the foundation of XRP and the XRPL, setting the stage for XRP’s significant impact in the next market upturn.

Analyst Dark Defender also sees a bright future for the altcoin, predicting a climb to the $1.33 price level as an immediate target. Moreover, he suggests that reaching the $1.88 and $5.85 Fibonacci targets in the forthcoming weeks is well within the realm of possibility

Meanwhile, despite facing a downturn with a 13% decline, followed by a further 1% drop in the last 24 hours, the altcoin’s trading price remains resilient at $0.6.

XRP price chart on TradingView

Featured image from Unsplash, Chart from TradingView

XRP Price Prediction: Can Bulls Defend This Key Support?

XRP price started a downside correction from the $0.7450 resistance. The bulls are now struggling to keep the price above the $0.5850 support zone.

  • XRP started a fresh decline after it failed to clear the $0.7450 resistance.
  • The price is now trading below $0.650 and the 100 simple moving average (4 hours).
  • There is a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could start a fresh rally if there is a close above the $0.6650 resistance zone.

XRP Price Trims Gains

After a steady increase, XRP price struggled to extend gains above the $0.750 resistance. The price started a downside correction from the $0.7442 high, like Ethereum and Bitcoin.

There was a steady decline below the $0.700 and $0.665 support levels. The price even declined below the $0.600 support. A low was formed near $0.5874 and the price is now consolidating losses. There was a minor increase above the $0.620 level.

The price spiked above the 23.6% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low. However, the bears were active near $0.650. There is also a key bearish trend line forming with resistance at $0.640 on the 4-hour chart of the XRP/USD pair.

Ripple’s token price is now trading below $0.620 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.640 zone. The first key resistance is near $0.6650 or the 50% Fib retracement level of the downward move from the $0.7442 swing high to the $0.5874 low, above which the price could rise toward the $0.70 resistance.

XRP Price Prediction

Source: XRPUSD on TradingView.com

A close above the $0.70 resistance zone could spark a strong increase. The next key resistance is near $0.7450. If the bulls remain in action above the $0.7450 resistance level, there could be a rally toward the $0.800 resistance. Any more gains might send the price toward the $0.820 resistance.

More Losses?

If XRP fails to clear the $0.6650 resistance zone, it could start another decline. Initial support on the downside is near the $0.5980 zone.

The next major support is at $0.5850. If there is a downside break and a close below the $0.5850 level, the price might accelerate lower. In the stated case, the price could retest the $0.520 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.5980, $0.5850, and $0.5200.

Major Resistance Levels – $0.640, $0.6650, and $0.700.

Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern

Ripple’s occasional sale of XRP tokens has always been pinpointed as one reason for XRP’s tepid price action. Once again, the crypto firm’s recent offloading of a significant amount of XRP has raised concerns about its negative effect on the crypto token. 

Ripple Offloads 240 Million XRP

On-chain data shows that Ripple transferred a total of 240 million XRP tokens to an unknown address in two separate transactions. The first transaction occurred on March 5, when it sent 100 million XRP to the address in question. Then, on March 13, the Ripple wallet again transferred 140 million XRP to this address. 

These transactions have raised eyebrows, and members of the XRP community are contemplating whether these sales might have been the reason XRP’s price crashed recently. Notably, the crypto token rose to as high as $0.74 on March 11 before seeing a sharp correction. 

It is worth mentioning that XRP’s price crashed on March 5, the day the first transaction was carried out. Data from CoinMarketCap shows that the crypto token, which was trading as high as $0.65 on the day, dropped to as low as $0.55 on the same day. However, it remains uncertain whether or not Ripple’s action was directly responsible for this price dip.

Meanwhile, XRP’s price was pretty stable on the day the second transaction occurred, although it was still declining from its weekly high of $0.7, recorded on March 11. The impact of Ripple’s XRP sales on the market continues to be heavily debated among those in the XRP community

Pro-XRP crypto YouTuber Jerry Hall previously claimed that Ripple was suppressing XRP’s price with its monthly sales. However, there has also been a report that Ripple’s sale doesn’t impact prices on crypto exchanges. 

If Not Ripple, Then Who?

Ripple’s price action defies logic, especially considering that the token’s fundamentals and technical analysis suggest it is well primed for a parabolic move. That is why talks about possible market manipulation continue to persist. It is also understandable that all fingers instantly point to Ripple since they are the largest XRP holders

However, if Ripple is indeed not responsible for XRP’s stagnant price action, then there needs to be another explanation for why XRP has continued to underperform. Although the crypto token has continued to rank in the top 10 largest crypto tokens by market cap, it is worth mentioning that it is one of few tokens that has a negative year-to-date (YTD) gain. 

At the time of writing, XRP is trading at around $0.61, up in the last 24 hours according to data from CoinMarketCap. 

XRP price chart from Tradingview.com (Ripple)

XRP Records Massive 80% Surge In Trading Volume – Can Price Reach A New ATH?

XRP continues to show strength despite largely underperforming during the ongoing bull market. Interestingly, the crypto witnessed a surge in activity last week, with trading volume surging in tandem. Particularly, the trading volume saw an increase of over 80% recently. 

However, the boost in activity and trading volume has not necessarily translated into continuous price growth, as XRP is currently on a 13% percent correction from the $0.74 price level on Monday.

XRP Trading Volume Surges, But Will Price Follow?

XRP witnessed a surge earlier in the week which saw it breaking out of a 6-year-long symmetrical triangle, prompting analysts to anticipate a continued price surge.

During this period, the crypto witnessed a surge in trading volume from whales in particular, with large bouts of XRP leaving crypto exchanges.

This bullish sentiment allowed XRP to cross over $0.74 for the first time in eight months, albeit for a short moment. This surge in price was short-lived, as XRP fell as low as $0.6 in the days after.

However, a recent 80% surge in on-chain activity and trading volume has led to the price of XRP increasing by 4.45% in the past 24 hours and 2.2% in a seven-day timeframe.

Volume spikes of this magnitude often occur before a price rally, therefore, this massive spike in volume has the XRP community speculating that a strong price rally could be on the horizon.

Current Price Action: Can XRP Reach A New All-Time High?

At the time of writing, XRP is trading at $0.6398. The crypto’s journey to a new all-time high is definitely not going to be an easy one, as it is now down by 83% from its current all-time high of $3.84. 

However, current market dynamics and various predictions from many crypto analysts indicate that the crypto might go on a surge of great magnitude in the near future.

One of these is a prediction from analyst Jaydee, who noted that XRP’s recent breakout from the six-year trendline mentioned earlier could lead to a surge to $3 from the current price level.

The major resistance level to watch is $0.74. XRP tested this level a few days ago but failed to close above it. If bullish momentum continues and volume stays strong, XRP could break through $0.74 decisively in the new week. If it does, the next resistance levels are at $0.82 and $1.5. 

One of the few factors that could contribute to a strong price increase is regulatory clarity regarding XRP’s status, which could boost confidence from institutional investors.

Notably, XRP’s non-security status seems to be gaining ground. The European Corporate Governance Institute (ECGI) recently published a research paper acknowledging this non-security status.

Featured image from Pexels, chart from TradingView

Crypto Expert Reveals Why XRP Is Primed For Growth In This Bull Market

Despite XRP lagging in this early stage of this bull run, crypto expert Zach Rector has shared his belief and given reasons why the crypto token is still bound to perform well. He went as far as ranking the token up there with Bitcoin to drive home his point on why the token will make a run soon enough

“XRP Will Not Miss This Bull Run”

Rector mentioned in an X (formerly Twitter) post that XRP will not miss this bull run. In the accompanying video, the crypto expert highlighted the crypto token’s fundamentals as one of the reasons he holds this belief despite XRP’s tepid price action. Rector further claimed that the token and XRP Ledger (XRPL) have some of the best fundamentals in the crypto space. 

Rector even challenged his followers to mention any other crypto token with a better fundamental than XRP. According to him, Bitcoin is the only other token that comes close to XRP in that regard. His statement echoes the sentiments of Ripple’s CEO Brad Garlinhouse, who recently stated the importance of real-world utility in driving a crypto’s growth. 

Meanwhile, Rector alluded to XRP’s recent pump as a sign of the great things to come for the crypto token. On March 11, XRP climbed to as high as $0.74 before seeing a sharp correction. However, the community will hope Rector’s conviction is correct, considering that XRP didn’t make any significant statement in the 2021 bull run.  

As Rector noted, community members’ faith in the token is fast waning, and there is a belief that a repeat of the altcoin’s sluggish 2021 run will ultimately erode this faith. XRP getting close to or surpassing its all-time high (ATH) of $3 will be a great place to start if it is to make a run in this bull run. 

Time For Price Predictions To Come True

Crypto analysts like Crypto Rover and Egrag Crypto had before now made bullish price predictions for XRP, which are meant to be actualized sometime around this period. On his part, Crypto Rover predicted that the altcoin would see a “massive breakout” this March. Meanwhile, Egrag predicted that XRP will rise to $5 between now and April. 

Other analysts like Dark Defender have also fuelled expectations for XRP this period. Dark Defender, in particular, recently stated that the next target for toke is the $1.33 price mark and that the $1.88 and $5.85 Fibonacci targets could be attained in the upcoming weeks. 

At the time of writing, XRP is trading at around $0.686, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

XRP To Skyrockets To $1.33 Amidst April Rally: Analysts

XRP has demonstrated significant strength for a while now, securing its spot as one of the best-performing cryptocurrency assets by market cap, after surging to its highest level since November.

XRP To Yield Gains From April Rally

The crypto community is buzzing about XRP’s latest price spike as several analysts predict the surge will be the start of the eagerly anticipated rally. With a 50% rise from $0.50 on Monday, March 11, to a weekly high of $0.75, it got off to a great start this week.

Cryptocurrency analyst and trader Dark Defender has shared his latest optimistic forecast for XRP with the community on X (formerly Twitter). Dark Defender highlighted that the crypto asset “broke out” from a strong resistance on Tuesday, just as he expected.

XRP broke out from a 6-year-long symmetrical triangle, which denotes a phase of consolidation with prices bouncing between the lower support line and the upper resistance.

According to the analyst, the monthly time frame clearly shows that the much-anticipated move has begun. Also, the daily time frame “confirms that the massive resistance level of $0.6649 has been broken.” 

XRP

He further added that for the “weekly and monthly time frame, $0.6649 will possibly be confirmed.” As a result, Dark Defender underscored that his targets are now “closer to the mid-resistance around the $1.33” price mark. Meanwhile, he has placed his “Fibonacci price targets at $1.88 and $5.85 in the upcoming weeks.” 

The post read:

XRP had the break-out yesterday, as we expected. In the Monthly Time Frame, it is obvious the move has started and the huge Resistance of $0.6649 has been confirmed to be broken in the Daily. $0.6649 will be Confirmed for the Weekly and Monthly Frames. Our targets are closer now to $1.33 mid resistance, and $1.88 and $5.85 Fibonacci targets in the upcoming weeks.

As a result, the expert has urged the community to watch out for “solid strikes” in the coming week. In addition, he noted that “April will be hot,” suggesting significant gains throughout the month.

Presently, the digital asset gradually gaining strength trading at $0.6897, indicating a weekly increase of over 12%. However, its market cap and trading volume are both down by 1.58% and 57% in the last 24 hours.

The Asset Does Not Belong In Your Portfolio

Despite XRP’s latest rally, crypto expert Jason Pizzino has claimed that investing in the token might not be a smart move. Jason Pizzino has issued a warning to the community never to consider adding XRP to their portfolio.

He claims that “even though it climbs this cycle, it still “needs to rise more than 2600%” in value to match Bitcoin‘s peak of 2017. “It achieved 500% in the previous cycle and is now only 30% away from shattering the SEC Lawsuit low,” he added.

Pizzino believes that the major advantage of influencers discussing XRP is that there is still a “large audience interested” in knowing about the project and “optimistic price projects that never appear.”

XRP