XRP Price Prediction as XRP Spikes Up 2.3% Suddenly – Time to Buy?
The XRP price has risen by 1% in the past 24 hours, climbing to $0.559752 as the market as a whole gains by 1.5% today.
XRP is also up by 5% in a week and by 13% in the past fortnight, with the altcoin being one of many to benefit from last week’s market-wide rally.
And with the coin also having risen by 65% since the beginning of the year, it retains enough medium- and short-term momentum to rise again in the next few weeks.
XRP remains in the middle of an upswing, one which hasn’t finished playing out yet.
Its 30-day moving average (yellow) has only recently begun rising towards its 200-day average (blue), meaning that there’s still time before the current rally peaks.
Likewise, XRP’s relative strength index (purple) is rising once again towards 70, a few days after slipping a little to 60.
This shows that investor sentiment remains bullish, and that further gains are likely in the near term.
It’s also encouraging that the coin’s 24-hour trading volume continues to hover around $850 million, after having been as low as $275 million in the middle of October.
Again, this suggests that XRP remains in a growth stage, one which positivity regarding potential Bitcoin ETF approvals has caused.
Belief in incoming ETF approvals has majorly improve overall sentiment, with investors becoming more positive about the long-term direction of the cryptocurrency market.
This has fed into XRP, which has also benefitted from recent positivity surrounding the Ripple and SEC case.
In particular, the past couple of weeks saw the SEC withdraw from a planned trial on the question of whether Ripple execs knowingly aided and abetted the cryptocurrency firm in its violation of securities laws.
That the SEC has dropped this is a very positive sign for
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