Ethereum

Bitcoin ETF

Bitcoin

Convergence

XRP price prediction: The cryptocurrency market is steadily buoyed by Bitcoin (<a href="https://coingape.com/markets/ethereum-bitcoin-price-set-up-for-a-22-run-as-blackrocks-btc-etf-hits-20-billion/" rel="noopener noreferrer nofollow">BTC</a>) as it hovered at evaluated cliffs, slightly below the previous all-time high. <a href="https://coingape.com/markets/bag-the-bull-market-top-3-altcoins-promising-10x-100x-in-30-days/" rel="noopener noreferrer nofollow">Altcoins</a> are moving sideways in the wake of a brief rally triggered by the approval of spot Ethereum ETFs. XRP holds above the crucial $0.52 support on Friday amid increasing signs of an inbound bullish move.
Market factors are strong for Bitcoin and altcoins. The approval of <a href="https://coingape.com/ethereum-price-soars-amid-40m-influx-will-momentum-sustain/" rel="noopener noreferrer nofollow">Ethereum ETFs</a> raised the stakes for XRP and Solana to receive similar products in the future.
A turnaround in net Bitcoin ETF inflows has sparked a fresh interest in the leading cryptocurrency. In addition, the European Union is making impressive steps toward regulating the crypto market under its Markets in Crypto-Assets (MiCA) framework.
XRP Price Prediction: Is This A Good Time To Buy XRP?
XRP stands out as the eighth largest <a href="https://coingape.com/easiest-cryptocurrencies-mine/" rel="noopener noreferrer nofollow">cryptocurrency</a>, with a market cap of $28 billion. With a green candle established on the four-hour chart, this could be a good chance for traders to seek exposure to longs ahead of a larger move up.
The Relative Strength Index (RSI) in the same time frame is starting to reinforce the bullish grip with potential. Should the RSI cross above the descending trend line and close the gap to the midline in the neutral area, the path of least resistance would uphold the uptrend.
<figure id="attachment_199889" aria-describedby="caption-attachment-199889" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-199889" src="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04.png" alt="XRP price prediction chart | Tradingview" width="2694" height="1444" srcset="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04.png 2694w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-1224x656.png 1224w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-1536x823.png 1536w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-2048x1098.png 2048w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-31-04-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-199889" class="wp-caption-text">
 XRP price prediction chart | Tradingview
 </figcaption>
</figure>
Two levels could shape the future outlook of the cross-border money remittance token—the green band support at $0.51 and the red band resistance at $0.53. XRP continues to oscillate in the narrow zone, implying little to no bearish or bullish bias.
The increasing four-hour candle shows that buyers have the upper hand. However, for <a href="https://coingape.com/xrp-price-to-rally-500-as-xrp-btc-witnesses-reversal-analyst-predicts/" rel="noopener noreferrer nofollow">XRP</a> to establish a sustainable uptrend, all three exponential moving averages (EMAs) must flip to provide support.
Such a move would ensure that the short-term death crosses are canceled in favor of incoming golden cross patterns. Above the red band, traders must brace for more resistance from the descending trendline around $0.54. XRP price failed to cross this level last week, leading to the current sideways action.
<figure id="attachment_199888" aria-describedby="caption-attachment-199888" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-199888" src="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56.png" alt="XRP Price Prediction: Here Is Why XRP Thriving " width="2694" height="1444" srcset="https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56.png 2694w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-1224x656.png 1224w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-1536x823.png 1536w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-2048x1098.png 2048w, https://coingape.com/wp-content/uploads/2024/05/XRPUSD_2024-05-31_14-45-56-150x80.png 150w" sizes="(max-width: 2694px) 100vw, 2694px">
 <figcaption id="caption-attachment-199888" class="wp-caption-text">
 XRP Price Prediction: Here Is Why XRP Thriving
 </figcaption>
</figure>
The most important levels in the daily range moved to $0.56 and $0.5, respectively. XRP still holds below the 20-day, 50-day, and 200-day EMAs, a bearish signal.
However, the Moving Average Convergence Divergence (MACD) dons a bullish signal likely to encourage traders to consider buying XRP. A major rally would erupt if resistance at $0.56 is broken, paving the way for a smooth path to $1.
The post <a href="https://coingape.com/markets/xrp-price-prediction-here-is-why-ripples-xrp-is-thriving/" rel="noopener noreferrer nofollow">XRP Price Prediction: Here Is Why Ripple’s XRP Is Thriving</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Prediction: Here Is Why Ripple’s XRP Is Thriving

Coingape News Media

Други статии, публикувани на 31.05.2024 г.

Leading Altcoins: BlockDAG’s Updated Dashboard Gains Traction During Bonk and Floki Inu Fluctuati...

SimpleSwap Launches a Trading Contest With $12,000 prize pool

Bitcoin And Ethereum Integration: Babylon Raises $70M To Foster Interoperability

LUNA Price Skyrockets Amid Terraform Labs’ Settlement with SEC

Today’s US PCE Report Shows A 2.8% Rise For April

MAGA & STRUMP React Sharply After Jury Finds Trump Guilty!

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!