Will XRP Price Reach $0.500?

Presently, XRP’s price is gaining substantial support from buyers on a daily time frame. It has been trading on an uptrend since early July when it broke out of the bears’ firm command over the xrp price action. Investors’ sentiments are taking a bullish edge according to the LunarCrush though presently the price is trading near a previous resistance zone above the major EMA levels.

As per the XRP price prediction If the token gains investor support from the present support level it can see a substantial gain within the next few weeks. The buyers have been respecting the trendline for the past few months. 

The technical indicators are supporting the positive change in the trend. The Oscillators are reaching near the overbought levels on the daily chart and the price of XRP is presently trading above the key MA and EMA levels.

The present value of Ripple is $0.460, It has a total market cap of $23.93B.

Increase in Bullish Sentiment Among Investors

Investors are projecting positive sentiments regarding the Ripple token, there is an increase of 52% in the bullish sentiments as per the metrics provided by LunarCrush. XRP coin is also gaining attention of the prospective buyers across various media platforms, The Total Social Mention rate has surged by 47.65% within the last few days. 

Technical Analysis ( 1 Day Timeframe )

Recently, the price made a positive breakout through the key EMA levels. It is presently trading near a resistance level. The price will require substantial buyer support in order to attain its next target level of around $0.500. 

The RSI line is moving near the median line after recently making a positive breakthrough. The value of RSI at present is 53.26 points whereas the 14 SMA is providing support to it at 45.40 points. 

The stochastic RSI is taking a negative reversal from the overbought levels on the daily timeframe. The %K is crossing below the 80 points after intercepting the %D line. The value of the stochastic RSI at present is 81.37 points.

Conclusion

The price of XRP is currently trading near an important support level around its previous resistance zone. However, it is making a higher high and low pattern which suggests that the XRP price is trading on an uptrend. If the buyers are successful in propelling the price up with strength, it may observe a surge of 10 to 15% in the near future. 

Technical levels –

Support – $0.380 and $0.400

Resistance –  $0.500 and $0.550

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

Latest posts by Nancy J. Allen (see all)