XRP Price Prediction as Rumors Emerge of Possible Ripple IPO – Could XRP Reach $100?
The XRP price has gained by a very slight 0.2% in the past 24 hours, as speculation emerges that Ripple is preparing for a possible initial public offering in the US.
Such rumors emerged after observers noticed a job posting on Ripple's website for a Shareholder Communications Senior Manager, a role which would imply that the cryptocurrency firm is seriously planning for an incoming IPO.
This would be big news for XRP, although the altcoin has barely moved today, with its current price of $0.489862 also representing a 0.5% rise in a week.
Yet given how unjustifiably oversold the altcoin has been recently, it's likely to make a big recovery soon enough.
XRP remains in a weakened position as far as its indicators are concerned, yet the flipside of this is that it's becoming increasingly likely that a rebound will follow soon.
For one, its 30-day exponential moving average (yellow) dipped below its 200-day average (blue) more than a week ago, with the distance between the two now suggesting it's due to rise again.
It's a similar thing with XRP's relative strength index (purple), which remains close to 40, another sign that the coin has been sold too much recently and is selling at a discount compared to recent levels.
In other words, XRP's discounted price should make it more attractive to buyers, who are likely to swoop in sooner or later to take advantage of its low price.
It's also worth pointing out that its support level (green) has been rising modestly in recent weeks, implying that it may have bottomed out and is now ready to mount a recovery.
Of course, such a recovery is dependent on some positive spark, with the news of Ripple's IPO-related job listing having little effect right now on demand for XRP.
Still, what this
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