- The currency has been in a sideways trend for the past many months.
For many months XRP has been in a sideways trend. The price has been rising to the present levels before falling back down. This indicates that the coin’s present level is a strong resistance .
XRP on daily time frame
The horizontal line on the chart indicates how frequently the price has returned from its present levels. This also implies that if price breaks through this horizontal line,it may advance shortly in an upward direction to its next nearby resistance which is $0.47535.
MACD – A bullish cross has been formed on the MACD. The MACD’s bullish crossover on the XRP daily chart indicates an upward trend.
Relative Strength Indicator (RSI) – The relative strength indicator shows that the RSI curve has crossed the 50-point barrier at 63.85. The value of the RSI curve has increased due to the increase in currency values.The RSI curve may rise considerably higher if the price rises even more.
Analyst views and expectations
Investors should keep an eye on the XRP daily chart as we could see a Golden Crossover in the coming days.
Based on past data , DigitalCoinPrice predicted that the price of XRP will increase at a steady rate averaging $0.77 in 2023 and $0.98 in 2024. According to the data, the average XRP price may reach $3.99 by 2030.
In its XRP price prediction for 2030, PricePrediction provided one of the most upbeat predictions , predicting that ripple’s expected growth might pick up speed later in the decade and that it will be worth $8.10 in that year.
According to PricePrediction’s artificial intelligence-assisted price study,the cryptocurrency might trade at an average price of $11.21 in 2031 up from $1.23 in 2025.
GovCapital predicted that the price of XRP might increase to $1.017 in a year and to an average price of $4.812 in the next five years.
By the end of December 2023, according to WalletInvestor’s prediction, the price of XRP currency might reach $0.241.
Technical Levels
Major resistance -$0.51759
Major support -$0.31989
Conclusion
For short-term investors, the cryptocurrency appears promising but for long-term investors it does not appear promising at this time. So they should watch for the Golden Crossover to happen.
Disclaimer: The opinions represented in this work along with any other opinions are presented primarily for informative purposes and are not intended to be taken as investment advice.
Source: https://www.thecoinrepublic.com/2023/01/21/xrps-technical-forecast-navigating-investment-opportunities/