Crypto Analyst Predicts XRP Price Will Reach $1.35
XRP has experienced a small decline in value over the past few days, coinciding with a period of consolidation in the broader cryptocurrency market after...
- XRP has experienced a small decline in value over the past few days.
- The broader cryptocurrency market is in a period of consolidation after four weeks of consecutive price increases.
- XRP is up by 1.78% in the past 24 hours but down by 8.68% over the past seven days.
- Open interest on futures contracts and a bullish divergence with the RSI indicate potential for a significant increase in XRP's value.
- Crypto analyst Cryptoinsightsuk believes XRP could reach a target price of $1.35.
- More than $100 million of open interest on futures contracts was added to the XRP ecosystem on the day of fake news surrounding BlackRock's XRP ETF filing.
- XRP's price has gone down, but the amount of open interest has stayed relatively the same, suggesting short trade positions.
- XRP's price chart shows the formation of lower highs and lower lows, with a potential break above the descending trendline indicating an uptrend.
- A bullish divergence with the RSI suggests that bulls are poised to regain control of the market.
- Cryptoinsightsuk predicts that XRP will reach a target range of $0.89 - $1.35.
The sentiment in the article is generally positive, with the analyst predicting a potential increase in XRP's value and expressing confidence in reaching a target price.