XRP: Expert Eyes $1.36 Target Based on This Key Indicator

• A strong RSI and bullish MA crossover support XRP’s potential to surpass $1.
• Increased XRP futures open interest signifies growing market confidence and hints at a possible price upswing.
• The current price of XRP is $0.579945, indicating a 3.85% increase in the last 24 hours.

Central to this optimistic outlook is the Relative Strength Index (RSI), a pivotal tool for assessing price momentum. XRP’s price range from $0.8875 to $1.3617 has rekindled hopes witnessed between April 2021 and March 2022. Despite resistance during a previous attempt in July, XRP currently stands resilient at $0.55285, marking a notable 3.85% uptick in the past 24 hours. Achieving the $1.3617 target necessitates a substantial 146% increase.

Source: Cryptoinsightuk

In cryptocurrency analysis, the RSI and RSI-Based Moving Average (MA) lines are vital indicators. The bullish crossover of the weekly RSI line above the RSI-Based MA line witnessed in July ignited a significant surge in XRP’s value. Presently, the RSI at 53.91 and RSI-Based MA at 51.01 echo a bullish sentiment, bolstering the optimism for XRP’s future.

Furthermore, the crypto expert underscores the pivotal role of XRP futures open interest in shaping a potential breakout. Open interest, reflecting outstanding cryptocurrency futures contracts, signifies growing market confidence. An abrupt upswing in open interest, denoted by higher highs, enhances liquidity, setting the stage for a potential price rally.

Read also:

• Bitcoin RSI Makes Historic Low Despite MicroStrategy Buy
• Bitcoin RSI Comeback: $40K BTC Price Soon?
• Bitcoin’s Monthly RSI and the Fibonacci Sequence: Predicting Market Turns
• SHIB Keeps RSI and MACD Uptrend Position, Is Shib Going to Pump?
• Analyzing Polygon’s Path to Potential Price Surge: Could It Reach Over $0.80?