XRP Price Prediction as XRP Spiles Up 3.3% to Breach $0.60 Resistance – Sign of a Strong Comeback?
The XRP price has jumped by 3% today, rising to $0.608281 as fresh Bitcoin ETF approval rumors push the wider market towards a 4% gain in 24 hours.
XRP’s current value represents a 2% loss in a week and a 1% fall in the last 30 days, although the altcoin remains up by 78% since the beginning of the year.
And with the coin’s price climbing over $0.60 after a few days of declines, it looks set to have a strong end to 2023, and perhaps an even stronger 2024.
It’s arguable that XRP is in a very good position for a comeback, given that its indicators have signalled overselling for several weeks now.
Its RSI (purple) has struggled to clear 50 since the middle of November, and had actually dropped to around 45 before today’s little boost.
Likewise, XRP’s 30-day average (yellow) has remained pretty much flat since early December, a sign that the coin has been failing to build some real momentum.
On the other hand, XRP’s support level (green) has prevented any major falls in the past couple of months, so even if the altcoin doesn’t mount a big comeback anytime soon, it’s unlikely to fall back to the levels it recorded in the summer.
As for when the XRP price will recover strongly, it may still take a little more time, with data suggesting that whales are still more likely to sell their holdings at the moment.
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