Convergence

Divergence

XRP price forecast: XRP has seen a fluctuation over the past 24 hours, indicating market volatility. The <a href="https://coingape.com/price/xrp/" rel="noopener noreferrer nofollow">XRP price </a>is currently at $0.53, reflecting a modest increase of 0.38%. This fluctuation has been accompanied by a notable rise in trading volume, which has surged by 43.14% to $1.16 billion. The market cap of XRP has also risen by 0.38%, reaching $29 million.
<h2 id="span-style-font-weight-400-xrp-price-forecast-stability-amid-market-fluctuations-span">XRP Price Forecast: Stability Amid Market Fluctuations</h2>
XRP has seen notable market fluctuations this week, with bulls and bears battling for control. The cryptocurrency experienced a 2.4% drop, struggling to remain above $0.53.&nbsp;
Despite the positive sentiment in the crypto market following the spot <a href="https://coingape.com/spot-ethereum-etf-s-1-approval-potential-date-revealed-heres-everything/" rel="noopener noreferrer nofollow">Ethereum ETF approval</a>, XRP’s price remains neutral, indicating a lack of investor interest in this altcoin. Ripple Lab’s XRP continues to show a stable yet uninspiring trend.
<figure id="attachment_199220" aria-describedby="caption-attachment-199220" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-199220" src="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_14-19-02.png" alt="XRP Price Forecast as Whales Sell-Off: Is $1 Still Possible?" width="1134" height="652" srcset="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_14-19-02.png 1134w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_14-19-02-300x172.png 300w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_14-19-02-768x442.png 768w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_14-19-02-150x86.png 150w" sizes="(max-width: 1134px) 100vw, 1134px">
 <figcaption id="caption-attachment-199220" class="wp-caption-text">
 XRP Price Forecast
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The XRP price is under pressure as a renowned whale continues offloading significant amounts of the cryptocurrency to a Luxembourg City-based exchange. On-chain data by <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ripple/158ED125EECD2451DF3CC38E63BA15A780D183A66AC345E78ED2E4C2AB4E31C1">Whale Alert</a> reveals that the whale, identified as Rzn, transferred nearly 28 million XRP to the exchange.&nbsp;
This Ripple-linked wallet began transacting substantial XRP amounts following Ripple’s strategic stake acquisition.&nbsp;
These transactions contribute to <a href="https://coingape.com/xrp-whale-offloads-28m-coins-despite-optimism-for-1-run-ahead-what-happening/" rel="noopener noreferrer nofollow">XRP’s</a> volatility, causing increased selling pressure. Coinglass data indicates 24-hour liquidations at $812.57K, impacted by the whale’s selloff. This activity underscores the volatility currently affecting XRP’s market.
<h2 id="span-style-font-weight-400-technical-indicators-suggest-mixed-outlook-for-xrp-span">Technical Indicators Suggest Mixed Outlook for XRP</h2>
The XRP price remains stable, consistently holding above the crucial $0.53 mark. This resilience indicates a potential rise to the $0.55 milestone. If the positive trend continues, <a href="https://coingape.com/blog/will-xrp-price-hit-1-in-june/" rel="noopener noreferrer nofollow">Ripple’s XRP</a> could aim for $0.8 and reach $1 soon.
However, a market downturn might push XRP below $0.52, potentially heading toward the $0.5 support level. Further downward pressure could see XRP fall to $0.45.In recent trading sessions, XRP has shown robust performance, maintaining stability in a volatile market.
The technical indicators for XRP on the daily chart suggest a mixed outlook for the cryptocurrency. The Average Directional Index (ADX) is currently at a low value of 10.13, indicating a weak market trend. The Moving Average Convergence Divergence (MACD) indicator presents a slightly bullish signal.&nbsp;
The MACD line is positioned above the signal line, albeit marginally, with values of 0.0023 and -0.0004, respectively.&nbsp;
<figure id="attachment_199221" aria-describedby="caption-attachment-199221" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-199221" src="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-28_15-46-30-e1716900433115.png" alt="XRP Price Forecast as Whales Sell-Off: Is $1 Still Possible?" width="1200" height="653">
 <figcaption id="caption-attachment-199221" class="wp-caption-text">
 XRP Price Forecast| Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/9WzL7jD3/">Tradingview</a>
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The Relative Strength Index (RSI) is currently at 51.12. This suggests that XRP is in a slightly bullish phase but close to neutral, indicating neither overbought nor oversold conditions.
Additionally, the Awesome Oscillator (AO), which measures market momentum, shows a slight positive value of 0.0110. This value suggests that the momentum is in favor of the bulls, albeit weakly.
The post <a href="https://coingape.com/markets/xrp-price-forecast-as-whale-selling-spree-picks-up-1-xrp-possible-amid-ripple-vs-sec-updates/" rel="noopener noreferrer nofollow">XRP Price Forecast As Whale Selling Spree Picks Up: $1 XRP Possible Amid Ripple vs SEC Updates?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Forecast As Whale Selling Spree Picks Up: $1 XRP Possible Amid Ripple vs SEC Updates?

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