Is XRP Price Upcoming? Key metrics show potential bullies
The overall cryptocurrency market is in decline, but key indicators are shining that XRP's price is set to skyrocket. In the past week, XRP experienced a price drop of more than 12%, due to depressed market sentiment and the recent decline in Bitcoin (BTC).
XRP's Bullish Signals
Current data, including declining trendline breakouts, mass divergence, exchange flow indicators, currency stocks and price action, show a bullish outlook for XRP despite bearish market sentiment.
Expert Bullish Outlook for XRP
In addition to these data, experts are predicting a bullish outlook for XRP. Recently, a crypto expert wrote on X (formerly Twitter) that XRP will start skyrocketing in the next 30 days. Additionally, he pointed out that there is still an opportunity to collect the token below $1 at the moment.
He also predicted that XRP will reach $3 in November and December, and in 2025, there may be an XRP Exchange Traded Fund (ETF). However, he concluded by adding that “the next six months will be explosive for XRP.”
XRP technical analysis and upcoming levels
According to expert technical analysis, XRP looks bullish. It has experienced a downtrend in the four-hour time frame and is currently moving above the critical support level of $0.555. Additionally, on a higher time frame (daily), it is trading above the 200 exponential moving average (EMA).
However, the technical indicator named Relative Strength Index (RSI) shows a bullish divergence indicating a trend change from downtrend to uptrend. In recent days, the price of XRP has hit lows and the RSI has hit highs and lows. Traders and investors see this as a buy signal.
Since July 2024, XRP has visited this support level several times, and each time experienced a 12% higher rally to the $0.635 level. At this time, there may be a similar rally in the price of XRP.
Bullish On-Chain Indicators
Meanwhile, XRP's on-chain metrics support this bullish view. CryptoQuant's XRP exchange rate is currently at a low, indicating a buying opportunity.
Additionally, currency reserves are at low levels, suggesting that investors are currently hoarding tokens at these low prices.
XRP price performance
At press time, XRP is trading near $0.566 and has gained over 1.3% in price over the past 24 hours. Meanwhile, transaction volume rose by 65 percent.
