XRP It is followed by both investors and traders as it enters a critical phase in price movement. According to analyst EGRAG, the altcoin price closing above $0.57 on a weekly basis would be a bullish sign. However, closing below $0.50 could turn things upside down.
XRP: The Battle Between Bulls and Bears
XRP has been facing strong resistance at the 21-day Exponential Moving Average (EMA) since the significant price drop on April 8. The market has witnessed an equal number of bullish and bearish candles since then, indicating a fierce battle between buyers and sellers to control the price direction of the cryptocurrency.
The analyst also acknowledges the intense fight between bulls and bears over the last four-week candle, but expresses confidence that the bulls will ultimately prevail.
As investors and traders eagerly await the outcome of this critical battle, many are examining expert price predictions to gauge XRP’s potential trajectory. Experts at Changelly say that at the beginning of 2023 altcoinBased on price fluctuations in , it expects the average price to be $0.617 in May 2024.
These experts also offer a range for the expected price of XRP, with a minimum of $0.526 and a maximum of $0.707. However, these estimates may change constantly depending on the volatile market. However, the general expectation is that the $1 level will not be easily broken anytime soon.
This content XRP Price Review: Will Ripple Reach $1? was first published on KoinFinans.