Rally

Million

<ul class="list-ic vertical"> 
 <li> 1 <a>XP Inc (NASDAQ: XP) Stock witnessed its yearly high at $26.45 on July 21, 2023. </a> </li> 
 <li> 2 <a>The XP Stock sustains above 50 and 200-day EMA.</a> </li> 
</ul> 
The Brazilian investment bank firm, XP Inc. (NASDAQ: XP) will be dropping its second-quarter earnings on August 15, 2023. XP stock price, however, is in the uptrend whose value doubled within the last three months.&nbsp; 
XP witnessed several major events during the rally period till today but none of them ended up affecting the uptrend. The earnings result for Q1 2023 reported in May 2023, posted better-than-expected revenue of $617.7 Million and earnings per share of $0.30.&nbsp; 
The positive financial report acted as a catalyst for XP stock price to continue its up move. For the upcoming earnings in August 2023, XP Inc is expected to report revenue of $732.93 Million and EPS of $0.38.&nbsp; 
In July 2023, the wealth management firm also announced the termination of a pact with shareholders. The decision was an effort to strengthen the corporate governance practices and composition of the company’s board of directors.&nbsp; 
Iupar Group, one of the shareholders in the XP, was eliminated from nominating the members to the board. The entity would still need to comply with the registration formalities during the selling of XP shares. The board members in the Brazilian financial form remained 9 from 11 seeking effectiveness.&nbsp; 
During the price rally, prominent financial institutions and rating agencies adjusted stock ratings and price targets for XP. Credit Suisse, an investment banking firm, raised the price target from $15 to $26 with the rating from “underperform” to “neutral”. Goldman Sachs maintains the “buy” rating for XP stock while raising the price target from $22 to $29. 
<h2 class="wp-block-heading" id="strong-xp-inc-nasdaq-xp-stock-price-movement-strong">XP Inc (NASDAQ: XP) Stock Price Movement</h2> 
XP stock price is trading at $26.29 gaining 4.27% in the last intraday session on Friday, July 21, 2023. During the trading session, the share price rose to its yearly high of $26.45.&nbsp; 
From $10 to the current price, the share price has seen a growth of more than 145%.&nbsp; 
<div class="wp-block-image"> 
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 <img decoding="async" loading="lazy" width="1024" height="460" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-1024x460.png" alt="XP Inc (XP) Stock Price Hit 52-Week High: Will it Rally Further?" class="wp-image-153905" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-1024x460.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-300x135.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-768x345.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-1536x690.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-750x337.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171-1140x512.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-171.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption">
 source – XP Inc (NASDAQ: XP) Stock Price Movement on <a href="https://www.tradingview.com/x/jrG3ffuS/" rel="noopener noreferrer nofollow">TradingView</a> 
 </figcaption> 
 </figure> 
</div> 
XP <a href="https://www.thecoinrepublic.com/2023/07/20/pinterest-inc-pins-stock-earnings-announcement-expectations/" target="_blank" rel="noopener noreferrer nofollow">stock </a>took immediate support at $21 since the price has been consolidating above the level for about a month now. Given the movement, if the trend remains up and the price continues to move upward, it is likely to meet the next hurdle at $33.&nbsp; 
During late June 2023, the 50-day and 200-day exponential moving averages (EMA) witnessed a golden crossover, strengthening the XP stock price’s uptrend. Currently, the price is above both the EMAs and the gap between them is ever-broadening.&nbsp; 
MACD is taking an upward curve showcasing potential bullish moves ahead in the stock price. An RSI of 63 suggests the stock price trend and market price trend are at a stronger level. 
<h4 class="wp-block-heading">Disclaimer</h4> 
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

XP Inc (XP) Stock Price Hit 52-Week High: Will it Rally Further?

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