XRP Price Prediction as Ripple Backs Quantum Computing Research – Can XRP Hold Above $0.50?
The XRP price has raised 0.29% in the past 24 hours, increasing to $0.51073. This comes as the crypto market as a whole has experienced a decline.
XRP is now up 2.29% in the past week, indicating a continuation of XRP’s monthly 1.60% price increase.
In the past year, the altcoin has seen a modest return of 8.93%, as per TradingView data.
This pales in comparison to the returns of major tokens like BTC, ETH, and SOL in the past 12 months. However, it also suggests that XRP could see above-average gains later in the year.
This recent price action follows Ripple’s backing of quantum-resistant cryptographic systems, which may boost future XRP price action.
As part of our #UBRI series, explore the intersection where blockchain meets quantum computing with Professor Massimiliano Sala from @UniTrento. Gain insights into the quantum challenges facing blockchain and strides towards quantum-resistant cryptography.https://t.co/UnpxUfCX5D
— Ripple (@Ripple) May 18, 2024
XRP’s chart is looking promising today, with the coin looking ready to post some more gains after dipping a little overnight.
The altcoin is approaching a retest of the $0.5005 support level (yellow), which has continued to hold XRP price above $0.50.
Breaking through this level decisively could lead to a continued decline in price.
Other indicators argue against this, with XRP’s relative strength index (RSI) rebounding towards 50, up from a low of 25 earlier this morning. This suggests that the recent price decline was temporary and does not signal a complete shift in momentum.
Additionally, the altcoin’s 30-day moving average (orange) is trending downward and nearing a crossover with the 200-day average (blue), having dipped below it earlier in the day. This suggests that
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