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XRP Coin has been diverging positively for a while and was targeting above $0.6, which it finally achieved today. Developments in the lawsuit are encouraging and provide strong signals that the long-standing process will conclude, increasing risk appetite. So, what are the current predictions for XRP Coin?
Ripple (XRP)
In 10 days, the XRP Coin price climbed to $0.6, increasing by 7% in 24 hours. While it was the weakest performer among the top 10 cryptocurrencies throughout the year, XRP Coin is starting to regain popularity. According to CryptoQuant, Whale Transactions to Exchanges have dropped nearly tenfold since August 18, based on XRP Ledger data.
If whales interact more with exchanges, it signals a more serious decline for XRP Coin. As we can see from the decrease in transactions and the increase in price, the current situation favors the bulls.
On Sunday, 664 transactions occurred, and now only 60 transactions are happening. The current data, showing a tendency to hold due to most whales avoiding sales, reflects the potential for further price increases.
XRP Coin Price Prediction
If the current trend continues, it is likely that the XRP Coin price will strengthen above $0.6. On the other hand, with the price increase, the trading volume of XRP Coin on centralized exchanges increased by 28%. This indicates an improvement in risk appetite, as seen from the demand increasing proportionally with the price. Moreover, the current outlook for assets with large market capitalizations like XRP Coin is also encouraging for altcoins in general.
The Parabolic Stop And Reverse (SAR) indicator suggests that the rise will continue. This indicator, used to track trends, does not currently signal a reversal. Since the XRP Coin price is trading above the 20 and 50 EMAs, the trend is upward. In an optimistic scenario, the first target will be the $0.65 Fib level. In the opposite scenario, there is a risk of continued sales down to $0.59 and $0.55.
If during this period we see some announcements about the development of XRP Ledger‘s smart contract capabilities or about Ripple’s IPO, we will have strong catalysts for a significant rise with excellent timing.
