XRP price is testing major support levels. Analysts predict a potential 75% jump if demand remains strong. The crypto market is uncertain following recent Federal Reserve decisions. Traders are wary of XRP’s next move.
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Ripple’s XRP to soar 75%: Main factors behind the price hike
Technical analysis shows bullish signs
Analyst Ali shared his positive view on XRP based on the chart. Since June 2022, the price of XRP has formed an upward channel. This suggests that it is likely to rise. If this situation continues, XRP could reach $0.80 or even $1.10.
Important price levels to watch
XRP is trading at $0.53. This is below two major averages: the 200-day moving average ($0.54) and the 200-day exponential moving average ($0.55). The $0.50 level is important. If XRP falls below that, there may be more selling. However, being above average can indicate a positive change.
Ripple’s award boosts confidence
Ripple recently won an award. Received the Platinum Award for Best Cross-Border Payment Platform at the 2024 Future Digital Awards. This recognition strengthens XRP’s position in the market.
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Market Mood and Investor Caution
Recent market changes have made investors cautious. Many people wait for clear signs before making a big move. The next few days are important. This will show whether XRP can continue to rise or if it is affected by broader market issues.
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XRP is at a critical stage. The cryptocurrency community is watching closely. A 75% price increase is also possible. But it all depends on whether Ripple’s coin breaks above a major support level and attracts more buyers to break through the resistance.
“Ripple is pleased to announce that it has been named a Platinum winner in the Best Cross-Border Payment Platform category at Juniper Research’s Future Digital Awards for Fintech & Payments 2024,” Ripple shared on social media. .
