XRP Coin, one of the largest altcoins by market value, is currently being traded at $0.54. The coin has seen a daily gain of over 5%, which is compensating for the previous period of decline. Those who bought at the bottom are now satisfied with their investment. So what is the next target for XRP Coin in terms of dollars?
After reaching a low of $0.43, the price of XRP Coin has increased by $0.11. The coin had previously fallen by 43% from its peak, but it is now on an upward trajectory once again. If the bulls can maintain closures above $0.52, they could see a strong rally in the short term. The MACD signals an uptrend, although the RSI remains in the neutral zone, suggesting the potential for further price increase.
While the monthly chart shows positive signals, the situation is slightly different on the weekly chart. To confirm a definite turnaround, XRP Coin needs to reclaim the main support at $0.62. If this is achieved, the bulls could target $0.75.
The Fib resistance at $0.54 has already been surpassed, and with the BTC price nearing its daily peak, the overall market sentiment is positive. As major companies release their quarterly earnings reports throughout the week, there is hope for the coming days. If Friday’s PCE data is also positive, the rally could gain momentum by the weekend or towards the end of the week.
As BTC goes through its own fluctuations, the BTC-XRP pair becomes crucial for altcoin investors. The situation of XRP Coin against BTC can provide insights into its future price movement. The key support region for XRP against BTC is at the 0.0000062 BTC level. The MACD is signaling an early rise, while the RSI is indicating a return signal as it is in the oversold area. After reaching such low levels, the RSI typically recovers and the price makes quick turns. The main upward risk is at the 50-week EMA in the 0.00001395 BTC area. The resistances at 0.00001238 BTC and 0.0000134 BTC are important levels to watch for a potential breakout. This week, we may see more developments related to the case, which could lead to a news-driven breakout. However, it is difficult to predict the direction of the breakout with certainty.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies, and should conduct their own research.
