XRP Price Prediction as Half a Billion Dollars Trading Volume Floods In

a year ago

XRP Price Prediction as Half a Billion Dollars Trading Volume Floods In – Is XRP About to Shoot Up?

The XRP price has dipped by 0.5% in the past 24 hours, falling to $0.475928 as the cryptocurrency market as a whole suffers a similar fall in the same timeframe.

XRP is now down by 4% in a week and by 6% in the past fortnight, with its 24-hour trading volume rising above $600 million today, up from $500 million a couple of days ago.

This slight increase suggests that the market may be preparing to push XRP up to higher prices, with expectations remaining high in relation to Ripple's case with the SEC.

And even if XRP has dipped a little in the past couple of weeks, a positive decision in this case could really send it surging.

XRP qPrice Prediction as Half a Billion Dollars Trading Volume Floods In – Is XRP About to Shoot Up?

While XRP has had a bad couple of weeks, its indicators suggest that it's now in a position to rise back up again in the near future.

Its relative strength index (purple) has begun rising again after nearly dropping to 30, indicating a modest increase in momentum.

At the same time, its 30-day moving average (yellow) has fallen so far below its 200-day average (blue) that it would seem as though its price will have to rise again sooner or later.

What's encouraging to note is that XRP's support level (green) has actually risen a little over the past couple of weeks, meaning that it's unlikely the altcoin will fall much further below its current level before mounting a recovery.

As such, we should expect XRP to push up from its current price in the next few days or weeks, potentially moving back toward $0.50.

While there hasn't been any indication of big XRP purchases by whales in the past day or so, it's instructive to note an apparent pause in the transfers to exchanges that was seen at the end of last week.

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