The post XRP price could target $1.3 after nearly $1 billion inflows into its market cap appeared on BitcoinEthereumNews.com.

The value of XRP is on a  bullish trendline in line with the overall trajectory of the cryptocurrency market. Undoubtedly, the focus on XRP is now centered on its next milestone, with the $1 mark representing a significant target. When examining the next XRP price target, a crypto analyst by the pseudonym EGRAG CRYPTO, in an X (formerly Twitter)  post on November 4, highlighted that with the token experiencing a surge in trading activity, key indicators point to a potential bullish trend and a possible price target of $1.3. EGRAG’s analysis focused on the weekly candle formation, providing valuable insights into the behavior of XRP’s price movements in the near future. According to the analysis, closing above $0.58 signals a bullish trend. However, the analysis emphasized that the candle formation must adhere to a bullish pattern, indicating sustained positive momentum. XRP price analysis chart. Source: TradingView The analysis also reviewed the previous surge in XRP’s price, reaching $0.93. This surge is interpreted as a retest of the upper price range, a positive sign for investors. In this line, EGRAG suggested that XRP could experience another surge, potentially reaching $1.3. XRP price analysis chart. Source: TradingView XRP true litmus test  Despite this optimism, the true litmus test for XRP lies in closing above $1 and achieving this milestone, which would signal a strong upward momentum and potentially pave the way for further gains. “The previous surge to 0.93c essentially served as a retest of the upper price range. While XRP may experience a surge and wick up to $1.3, the true litmus test lies in closing above $1, a pivotal psychological level for traders,” Notably, the surge in XRP market cap follows a cooling down in the case between Ripple and the Securities Exchange Commission (SEC). In one of the latest…

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Filed under: News - @ November 4, 2023 11:14 am