Can XRP Price Rise Again? This is the Analysis!

Bittime - The crypto market was again shocked by XRP's aggressive movement. This digital coin seems to be running fast, leaving its competitors far behind. However, can this crypto asset rise again? Here's the analysis!

The price of XRP is currently at IDR 9,595 per coin (around $0.6027), continuing to press the resistance level as if tirelessly.

The XRP/USD chart tells the story of increasingly strong momentum, marked by technical indicators flashing positive signals. Despite the high volatility, the potential for huge profits also lurks.

XRP Technical Analysis

Currently, XRP is near the upper limit of the Bollinger Band, a condition that indicates very strong buying pressure. The width of the Bollinger Band itself indicates a volatile market, in line with recent wild price movements.

The resistance level to watch is IDR 10,042 (around $0.6276). If XRP manages to penetrate this level, it is not impossible that an even more powerful price rally will occur. 

On the other hand, the support level at IDR 9,586 (around $0.5991) is still strong so far. Every time the price falls near this level, buyers rush in, pushing the price back up. This shows strong buying interest and is a breath of fresh air for optimistic market players.

If we look at chart patterns, there are many Double Top and Double Bottom formations. It's like a tug of war match between buyers and sellers. 

However, the number of Double Bottom formations is slightly lower than Double Top, indicating potential buyer dominance. If this trend continues, XRP could rise sharply.

Positive Signal of XRP Increase

One of the strongest indicators is On-Balance Volume (OBV) which is now at the level of 467,042 million and continues to rise. This is a clear signal that buying volume is increasing, an ideal condition in a bull market. The more people buy, the more likely the price will rise.

The MACD indicator also shows a positive signal with its line crossing the signal line. This is a classic sign that prices will continue to rise. Even though the histogram has decreased slightly, it is still in the bullish zone, so the overall trend is still positive. Temporary decline is possible.

XRP Price Prediction

If XRP manages to penetrate resistance at IDR 10,042 (around $0.6276), the next target is IDR 10,400 (around $0.6500), it could even reach IDR 10,880 (around $0.6800). 

However, remember that the crypto market is highly volatile. If it fails to break through resistance and falls below IDR 9,586 (around $0.5991), the price could be corrected to IDR 9,120 (around $0.5700). Even so, based on current indicators, a bullish scenario is more likely.

Ripple Wins Fuel XRP

One of the main factors behind XRP's positive movement is the end of the legal battle between Ripple and the United States Securities and Exchange Commission (SEC). XRP is officially declared not a security. After years of fighting in court, Ripple finally received legal certainty.

The court sentenced Ripple to pay a fine of $125 million, much lower than the SEC's initial demand. Ripple's ability to continue operations, especially On-Demand Liquidity (ODL) sales outside the US, has excited investors. 

With regulatory uncertainty resolved, investor confidence increases, which is reflected in XRP price movements.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.