XRP Coin, one of the largest altcoins by market value, is currently being bought at $0.54, according to the latest data. The coin has experienced a daily gain of over 5%, which is compensating for the previous weeks of decline. Those who predicted the bottom are now satisfied, but what is the next target for XRP Coin in terms of dollars?
Ripple (XRP), after dropping to a base of $0.43, has seen a price increase of approximately $0.11. The price had previously fallen by 43% from its peak, but it is now heading upwards again. If the bulls can maintain closures above $0.52, they could potentially see a strong rally in the short term. The MACD signals an uptrend, while the RSI remains in the neutral zone, indicating the possibility of further rise.
Although the monthly chart shows positive signals, the situation is slightly different on a weekly basis. To consider a definite turnaround, XRP Coin needs to reclaim its main support at $0.62. If successful, the bulls could target $0.75.
Currently, the Fib resistance at $0.54 has been broken, and with the BTC price nearing its daily peak, the overall market sentiment is positive. The upcoming quarterly earnings reports from major companies throughout the week also add to the hopeful outlook. Additionally, if Friday’s PCE data is positive, the rally could gain momentum by the weekend or towards the end of the week.
For investors in altcoins, BTC becomes a crucial pair to monitor during such market turns. XRP Coin’s situation in its BTC parity can provide insights into its future price path. The key support for XRP against BTC is at the 0.0000062 BTC level. The MACD is showing an early rise signal, and the RSI, which is in the oversold area, indicates a return signal. After reaching such low levels, the RSI typically recovers and the price makes quick turns. The main upward risk is at the 50-week EMA in the 0.00001395 BTC area. The resistances at 0.00001238 BTC and 0.0000134 BTC are key levels to watch for a potential breakout. This week is expected to bring more developments related to the case, which could trigger a news-driven breakout. However, it is important to note that the direction of the breakout cannot be determined definitively.
Disclaimer: The information provided in this article is not investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
