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<p>Cryptocurrency analysts are pointing to key metrics that suggest the price of XRP, the native token of the Ripple payment network, is gearing up for a significant rally. According to <a href="https://twitter.com/Cryptoinsightuk/status/1719685851460891099?t=T5bnxeaClfe_UdwJECZwkQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Cryptoinsightuk</a>, a pseudonymous analyst, XRP has just closed above a critical resistance level on the monthly chart for the first time since its major correction in August.</p>
<p><em>“We have had a brilliant monthly close for $XRP! I have been calling for a close above $0.59…. AND WE GOT IT! The MACD is about to cross the 0 line, bringing momentum back to the bulls,” </em>tweeted Cryptoinsightuk.</p>
<h2 class="wp-block-heading" id="technical-analysis-supports-upside-for-xrp">Technical Analysis Supports Upside for XRP</h2>
<p>The monthly close above $0.59 is considered very bullish for XRP’s outlook. Cryptoinsightuk notes that the last time <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> closed above this level, the price rallied 180% in the following month. Extrapolating this historical precedent could imply a price target around $1.69 next month.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="537" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-1024x537.png" alt="" class="wp-image-368356" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-1024x537.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-300x157.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-767x402.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-1536x806.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-2048x1074.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-286x150.png 286w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-667x350.png 667w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24-788x413.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-24.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>In addition, the moving average convergence divergence (MACD) indicator is poised to cross above zero on the monthly chart. According to Cryptoinsightuk, this MACD crossover will align the momentum in favor of the bulls again.</p>
<h2 class="wp-block-heading" id="on-chain-data-shows-growing-interest">On-Chain Data Shows Growing Interest</h2>
<p>On-chain data analytics firm <a href="https://twitter.com/santimentfeed/status/1719507902204194999?t=pnvlJnQ0SP2qfbF0T8cpTg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> also highlighted growing interest in XRP among crypto whales and investors.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="619" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-1024x619.png" alt="" class="wp-image-368348" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-1024x619.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-300x181.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-768x464.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-1536x928.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-2048x1238.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-248x150.png 248w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-579x350.png 579w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23-788x476.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-23.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p><em>“XRP revisited a $0.60 market value for the first time since its tumble back on August 16th. Along this road back, we have seen whales get gradually more involved. Additionally, there are now an all-time-high 277.62K wallets holding at least 10K $XRP,”</em> noted Santiment.</p>
<p>Read also:</p>
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<p>The technical and on-chain signals identified by analysts indicate growing momentum and interest in XRP as it pushes back towards the $1.00 level. The confluence of bullish factors has analysts eyeing further upside, with price targets as high as $1.69 in the near-term.</p>
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<p>The post <a href="https://captainaltcoin.com/these-ripple-indicators-and-on-chain-metrics-have-revealed-the-next-xrp-price-direction/" rel="noopener noreferrer nofollow">These Ripple Indicators and On-Chain Metrics Have Revealed the Next XRP Price Direction</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

These Ripple Indicators and On-Chain Metrics Have Revealed the Next XRP Price Direction

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