Recent data shows XRP experiencing major price swings, leaving investors and analysts speculating on its potential trajectory for the coming days.
According to Changelly, XRP is predicted to surge by a substantial 32.26% surge on October 12, 2024, pushing its price to $0.700707. The bullish momentum is expected to continue into October 13, with the token expected to climb further to $0.711876, marking a 34.36% increase.
However, XRP price is expecting a sharp correction on October 14, dropping to $0.617867, though still maintaining a 16.62% gain.
Weekend XRP outlook: Bulls vs. Bears
Despite the recent volatility, XRP is currently trading at $0.52, showing a drop in price over the last 24 hours. With a market cap of $29.7 billion and a trading volume of $1.36 billion, XRP maintains its position as the 7th largest crypto.
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The weekend ahead presents a mixed bag of signals for XRP. Coincodex reports that the current price prediction sentiment for XRP is bearish, with the Fear & Greed Index sitting at 39, indicating “Fear” in the market.
XRP is trading significantly below its all-time high of $3.92, reached on January 4, 2018. However, it’s well above its cycle low of $0.113268, suggesting potential for upward movement.
With a circulating supply of 56.56 billion XRP out of a maximum 100 billion, and a yearly inflation rate of 5.95%, the token’s scarcity factor could play a role in price movements.
As traders and investors gear up for the weekend, the key question remains: Can XRP recapture the momentum seen earlier this week, or will bearish sentiment prevail?
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Technical analysts are closely watching key resistance levels, with many pointing to the $0.70 mark as a crucial threshold. A sustained break above this level could reignite bullish sentiment and potentially push XRP towards the $0.80-$0.90 range.
