XRP Price Prediction as $700 Million Trading Volume Comes In – Can XRP Reach $1?

cryptonews.com:

The XRP price has remained more or less stable today, with its 0.2% gain in the past 24 hours coming as the wider cryptocurrency market moves by a similarly modest percentage.

At $0.502512, XRP is down by 2% in a week and by 20% in the last 30 days, although the altcoin is still up by 47% since the beginning of the year, helped largely by Ripple's success in its legal case with the SEC.

And with XRP's 24-trading volume rising beyond $700 million today, the coin has enough liquidity and activity in its market to see further gains in the coming days.

Now would appear to be a good time to buy XRP, in that the coin remains oversold and undervalued, with its indicators suggesting that it should be rebounding anytime soon.

The key indicator to watch in this regard is XRP's 30-day moving average (yellow), which is only a few days away from dropping below its 200-day average (blue) and thereby signalling that the altcoin has reached a bottom.

In fact, XRP's relative strength index (purple) would suggest that the coin's bottom may already be here, given that this indicator has spent the past few weeks hovering around the 30 level.

This confirms what most traders would already suspect, which is that XRP is grossly undervalued relative to its 'fair' price, and that anyone who buys it now may end up enjoying sizeable profits in the not-too distant future.

It's hard to say when such profits are likely to arrive, given that the market continues to be subdued in the face of weak macroeconomic indicators (e.g. the Chinese economy) and delays regarding Bitcoin ETF applications.

Such factors have weakened XRP (and the rest of the market) since mid-July, when Ripple celebrated receiving a largely positive ruling in its long-running battle with the