Is XRP Ready For Reversal?

The XRP crypto price snapped its morning losses and is currently trying to form a green candlestick over the daily chart. The price rebounded from the round level of $0.5 yesterday and is trying to resume yesterday’s recovery.

Earlier, the XRP crypto dropped sharply in the recent sessions after failing to rest above the 200-Day EMA and previous breakout zone. The price has been in a losing streak for the past three sessions.

The buyers have initiated a recovery after the crypto reached near a round level of $0.05. XRP may end its losing streak if it manages to close today in green. At press time, XRP crypto was at $0.517 with a slight intraday rise of 0.13%. It has a live market cap of $28.075 Billion and ranks 6th in the crypto market. 

XRP is an open source, permissionless and decentralized technology which has been one of the top crypto choices for the Investors. It claims to provide the users with a low transaction cost of $0.0002 per transaction along with high speed transaction settlement of 3 to 5 seconds. 

Xrp Crypto Price Technical Analysis 

Moreover, the XRP crypto price peaked in the mid-October near $0.75 and turned around to retrace below the 20-Day and 50-Day EMAs. The EMAs tried to hold the price above it, acting as a dynamic support for the price.

However, it could not hold more and the crypto dropped after multiple retracements. Earlier, the price showed a bullish bias in mid-October and gained nearly 46% in October and November.

Currently, the price has dropped below the 200-Day EMA, highlighting weakness in the positive trend. The price is nearing a major support zone of $0.5 to $0.45 the breakdown of which may drag the long term in bearish territory and the crypto may register a sharp fall below it.

The EMAs are showing a negative outlook as the price hovers below it. At the time of writing, the RSI was at 30.80 points and that of SMA line was at 39.47 points, indicating a bearish scenario for the crypto. 

XRP Price Prediction January 2024

As per the most optimistic view of our analysts, the XRP price could reach a high of $0.55 by the end of the month. The bearish view of the analysts hopes for a breakdown below the recent support, after which the price may drop to a low of $0.482.

Xrp Price Prediction 2024

The price prediction for 2024 shows that the XRP crypto may rise to a high of $0.7121 by the end of 2024 if a positive trend prevails. However, the less optimistic analysts estimate a price target of $0.614 by the end of 2024.

Xrp Price Prediction 2025

As per the most positive view of our analysts, the XRP price may attain $0.852 by 2025, suggesting an upside potential of 65.20%. On the other hand, the most pessimistic view expects the price to reach $0.682 by the end of 2025.

Disclaimer

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

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.