The post XRP Price Surge Imminent? Key Metrics Reveal Bullish Potential appeared on BitcoinEthereumNews.com.

The overall cryptocurrency market is in a downturn, but key metrics are flashing that the XRP price is set to skyrocket. In the past week, XRP has experienced a massive price drop of over 12% potentially due to the bearish market sentiment and the recent decline in Bitcoin (BTC).  XRP’s Bullish Signals  The current data including a descending trendline breakout, bullish Divergence, token inflow on exchanges, exchange reserve, and price action, indicate a bullish outlook for XRP despite the bearish market sentiment.  Expert Bullish Outlook for XRP  Besides these data, experts are also speculating a bullish outlook for XRP. Recently, a crypto expert made a post on X (previously Twitter) that XRP will start skyrocketing within the next 30 days. Additionally, he also noted that currently there’s still an opportunity to accumulate the token below $1.  He also predicted that by November and December, XRP will reach $3, and by 2025, there is also a possibility of an XRP Exchange Traded Fund (ETF). However, he concluded by adding “The next six months will be explosive for XRP.” XRP Technical Analysis and Upcoming Levels According to the expert technical analysis, XRP looks bullish. It has experienced a breakout of a descending trendline in a four-hour time frame and is currently moving above the crucial support level of $0.555. Additionally, on a higher time frame (Daily), it is in an uptrend as it is trading above the 200 Exponential Moving Average (EMA). Source: Trading View However, the technical indicator named Relative Strength Index (RSI) flashes a bullish divergence that suggests a trend reversal from a downtrend to an uptrend. In recent days, the XRP price has been forming a lower low while the RSI has been making higher lows. Traders and investors view this as a potential buy signal.  Since July 2024,…

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Filed under: News - @ September 2, 2024 10:12 pm