Ripple’s XRP The token is gaining momentum and continues to attract interest among investors and traders by showing upward trends. The price of XRP has risen recently, registering a 6% increase in just one day, rising to $0.5687. Analysis EGRAG to CRYPTO according to, this upward move is supported by technical indicators that point to a potential breakout and are clearly focused on a double bottom formation. This classic bullish pattern indicates that an upward move is approaching.
#XRP Color Code 🎨 To $1.4(Update):
NEWS CONTINUES BELOWNote:
I’ve updated the consolidation zone to a supply zone and the wicking range to a demand and accumulation zone.Double Bottom Formation:
The double bottom formation is giving us a strong bullish signal, and I’m highly confident that the… https://t.co/zBwbo5sKuA pic.twitter.com/Vi0j4fFtjnNEWS CONTINUES BELOW— EGRAG CRYPTO (@egragcrypto) April 23, 2024
Latest data on Santiment wallets holding at least 1 million XRP tokens reveals a significant uptrend. Currently over 2,013 wallets are nearing an all-time high. This increase in large-scale holders indicates increasing trust and accumulation within the XRP community. This points to strong investor sentiment supporting further price gains for XRP.
🐳 The price of #XRP has jumped ahead of the #altcoin pack, jumping +6% and as high as $0.5687 today. The amount of wallets, 2,013, holding at least 1M $XRP has been surging over the past six weeks (rising 3.1%), and is within 1 wallet of the #AllTimeHigh. https://t.co/2ZfC9v79x9 pic.twitter.com/rqKgcOYJJx
— Santiment (@santimentfeed) April 22, 2024
According to the latest data, the price of XRP stands at $0.547538 with a daily trading volume of $1.6 billion. However, XRP’s 1-day RSI value is neutral at 47.70. This indicates neither overbought nor oversold situation. This neutrality on the RSI indicates that there is potential for price movement in both directions in the near term.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator paints a more bullish picture with the MACD line trading above the signal line. However, this bullish trend is somewhat offset by the short-term bearish trend shown by the 1-Day Know What You’re Sure of (KST). This highlights the underlying market uncertainty and suggests caution should be exercised in XRP’s near-term price movements.
As reported by Koinfinans.com, despite mixed signals from various indicators, the prevailing sentiment around XRP remains positive, driven by technical breakout formation and increasing institutional interest. Traders are closely watching key resistance levels, especially the $0.5687 mark, as a decisive breakthrough could pave the way for a sustained rally towards the $1.40 price target.
