XRP is down by 2.67% in the last 24 hours, exchanging hands at $0.5713. The price is poised to rebound in the coming days, but what makes the decline a notable trend is the fact that there have been a few positive developments for Ripple and its native token. For instance, Robinhood has relisted XRP, and speculation suggests that the SEC might not file an appeal against the verdict of the Ripple vs. SEC lawsuit.
Robinhood is a commission-less crypto platform with thousands of users. Regaining access to them works well for XRP. It not only allows users to acquire or trade tokens at an affordable price but also facilitates a higher trading volume. XRP was previously recorded to have gained 12%. This dates back to the end of the previous week. That paved the way for the cryptocurrency to target July 2024’s high, which is $0.6602. Chances are that it will test that level in the next 30 days.
XRP’s near-term prediction projects the token to surge by 19.89% in the said time frame, for a value of $0.696503. The jump will be in comparison to the current value. Another near-term prediction projects that XRP will grow by 17.86% in the next 5 days to a value of $0.684716. It is safe to conclude that the next 5 days would bring the best of XRP for the token to sustain those gains for a few more days.
Advertisement
In addition, Because Bitcoin founder and CEO Max Keiser has made ripples in the XRO community. Max announced on X that he has bought a lot of XRP while admitting that the chart analysis data prompted him to do so.
Chris Larsen transferring 50 million XRP tokens to reportedly an unknown wallet has triggered a series of questions, including the reason behind that transfer. One community member joked that the transfer might have been made to support Kamala Harris. This stems from the recent announcement wherein Larsen backed Harris for her Presidential campaigns.
One theory is that the transfer to a wallet is intended to hold the tokens rather than sell them in the market. An alternative theory suggests that the execution of the transfer occurred prior to any sudden movement in the price on the chart. Both theories remain to be tested successfully.
The prevailing sentiment and volatility are neutral and 4.39%, respectively. The 50-day SMA is $0.565631. It signals that the token is currently experiencing an uptrend. However, the 200-day SMA demonstrates that it is experiencing a downtrend at the moment, with a long road to travel before it rebounds. XRP price prediction projects the token to reach $1.8 by the end of the next year. It is anticipated to trade at an utmost value of $0.85 this year.
Advertisement
The peak it reached in the past 24 hours was approximately $0.5928. It entered the red zone by breaching the mark of $0.586. XRP is now tasked with navigating its way into the green zone.
