bullish

The cryptocurrency market exploded in the past 24 hours. Almost all of the cryptocurrencies are trading in the green, and Ripple’s XRP is no exception.
Now, a popular analyst has come up with a rather bullish price prediction, but some other metrics are also worth watching.
<h2 id="ripple-xrp-price-can-go-crazy">Ripple (XRP) Price Can Go Crazy</h2>
<a href="https://x.com/TheDustyBC/status/1826978288255791496/photo/1" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">According</a> to DustyBC, a well-known analyst with over 150,000 followers on X and across other channels, the XRP price could go “crazy.”
His chart, although rather simple, shows XRP trading towards the upper boundary of a flag pattern, which, if broken to the upside, could propel a move toward $2. This would mark an increase upwards of 3X from the current level.
<figure id="attachment_355836" aria-describedby="caption-attachment-355836" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-scaled.jpeg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355836" src="https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-scaled.jpeg" alt="xrp_price_chart_2408241" width="2560" height="1758" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-scaled.jpeg 2560w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-300x206.jpeg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-1024x703.jpeg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-768x527.jpeg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-1536x1055.jpeg 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-2048x1406.jpeg 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/GVq6-UEWUAAIhKY-50x34.jpeg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-355836" class="wp-caption-text">
 Source: X
 </figcaption>
</figure>
As&nbsp;CryptoPotato&nbsp;<a href="https://cryptopotato.com/crypto-price-analysis-august-23-eth-xrp-ada-bnb-and-sol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> yesterday, XRP’s gains topped 9% on a weekly basis, and the bias is leaning toward bullish. The momentum might be better, but if the cryptocurrency is indeed to break the pattern to the upside, this could result in increased volume and subsequent gains.
<h2 id="what-about-other-xrp-metrics">What About Other XRP Metrics?</h2>
A notable decline in some on-chain metrics can be noticed.
For example, the number of payments from one account to another has declined by 26% over the past week.
<figure id="attachment_355837" aria-describedby="caption-attachment-355837" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355837" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01.png" alt="" width="1602" height="682" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01.png 1602w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01-300x128.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01-1024x436.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01-768x327.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01-1536x654.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-24-at-16.32.01-50x21.png 50w" sizes="(max-width: 1602px) 100vw, 1602px"></a>
 <figcaption id="caption-attachment-355837" class="wp-caption-text">
 Source: XRPScan
 </figcaption>
</figure>
The number of active accounts (unique senders) is also down by more than 50% in the past day.
The number of transactions executed on the XRPL dropped as well today and it’s interesting to monitor if this is because of the lower activity during the weekend or if some sort of a more worrying trend is forming.
The post <a href="https://cryptopotato.com/super-bullish-ripple-xrp-price-prediction-but-some-worrying-signs-appear/" rel="noopener noreferrer nofollow">Super Bullish Ripple (XRP) Price Prediction, But Some Worrying Signs Appear</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Super Bullish Ripple (XRP) Price Prediction, But Some Worrying Signs Appear

Table of Contents

CryptoPotato_News

Other articles published on Aug 24, 2024

Shiba Inu Skyrockets 671% in Inflows as Price on Verge of Major Breakout

Crypto Scams on Rise Again, Here's What You Need to Know

From Bitcoin To Ripple, What’s Next As Crypto Market Is Poised For A Bull Run?

Will XRP Price Skyrocket Above $5 Soon?

Bitcoin’s Drop Affects PEPE Coin’s Performance

Bitcoin (BTC) Jumps to Nearly $64K

Join our free newsletter for daily crypto updates!