XRP: The price of XRP is likely to start increasing soon, based on what the daily chart shows.
This week, XRP did well, increasing by 9.16% and reaching a high of $0.58.
Currently, the digital currency’s price is $0.5702, which is over 2% higher than it was a day ago. This increase has helped raise its total market value to $31,093,281,935.
The price of XRP has started to increase after several weeks of falling, causing leading experts who follow its movements to make new guesses about its future.
XRP Eyeing Potential Breakout
Even though XRP’s price has been doing better than expected, it still hasn’t consistently stayed above $0.6. According to market analyst Crypto Rand, the activity on the blockchain suggests that XRP is getting ready to start increasing in value.
He shared a chart showing that since November 2023, the price of XRP has been going down. However, there was a point where the price increased to $0.5621.
To confirm the upward trend, we need to see more consistent buying. However, the changing prices suggest that more people are starting to buy since the trading volume has increased by 14% to $1,802,160,527.
The XRP-BTC Correlation
CRYPTOWZRD confirmed the growth of XRP is real and said it needs to keep closing high around its current price.
CRYPTOWZRD says that on February 15, the value of XRP compared to Bitcoin went up because Bitcoin’s dominance decreased.
He mentioned that if Bitcoin becomes less dominant, it will be good for the XRPBTC pair. This pair will increase if XRP’s price goes above $0.59.
CRYPTOWZRD thinks if the price goes above this level, it could quickly rise to $0.73 or higher.
XRP has done well because of the recent market increase, and the excitement around Bitcoin ETFs and the Bitcoin halving event could keep helping its value go up.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
