XRP price to surge as multiple bullish indicators point to a $0.93 breakout

As the majority of assets in the cryptocurrency market have started to recover, XRP (XRP) has been at the forefront of these gains in the past 24 hours as one of the top-performing crypto assets, and several bullish indicators have appeared that herald even higher advances.

Specifically, XRP has demonstrated bullish and green Heikin Ashi candles, green Ichimoku Clouds, and, most importantly, a golden cross by its relative strength index (RSI), according to the observations shared by pseudonymous crypto expert Dark Defender in an X post on August 20.

XRP prediction

In this context, the crypto trading analyst highlighted that XRP had touched the Fibonacci zone of 61.80% at $0.6044 and was trying to break at this point, after which he expects the currently seventh-largest asset in the crypto sector by market capitalization to reach $0.6649 and then hit $0.9327.

Indeed, as evidenced on the chart posted by the crypto expert, the expected price target of $0.93 for XRP could happen in a matter of weeks, if not days, towards the end of August and at the beginning of September, provided that the positive momentum sustains.

Additionally, the silence from the United States Securities and Exchange Commission (SEC) regarding the possibility of an appeal to the recent court decision in the lawsuit against blockchain company Ripple regarding institutional sales of XRP could also act as a bullish influence.

The SEC asked for $2B, and the Court reduced their demand by ~94% recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.
This is a victory for Ripple, the industry and the rule of law. The SEC’s…
— Brad Garlinghouse (@bgarlinghouse) August 7, 2024

XRP price analysis

Meanwhile, XRP was at press time changing hands at the price of $0.60985, which suggests an increase of 4.90% in the last 24 hours, adding up to the 7.22% advance across the previous seven days and accumulating a 3.09% gain over the month, according to the most recent chart data.

XRP price 7-day chart. Source: Finbold — *XRP price 7-day chart. Source:* *Finbold*

All things considered, the expert’s XRP price prediction next bull run might, indeed, come true, especially as multiple chart patterns align to deliver his bullish target. That said, things in this industry can change unexpectedly, so understanding this and doing one’s own research is critical when investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source: https://finbold.com/xrp-price-to-surge-as-multiple-bullish-indicators-point-to-a-0-93-breakout/