Last updated on May 18th, 2024 at 12:29 pm
XRP price surge – Regardless of the legal issues surrounding Ripple and the concerns raised by its top officials, the XRP token still maintains its price above $0.5.
The XRP community has continued to press for clarity surrounding crypto regulations in the United States. This is very important for Ripples’ loyal customers. However, XRP remains a notable profit source for the company which sells XRP to on-demand liquidity customers outside the United States.
XRP Price Analysis
Popular crypto analyst @egragcrypto gave a detailed XRP price analysis. He revealed that the Bollinger Band indicator offers a clear XRP price target in a higher time frame. He asserts that higher highs can be secured if XRP bulls try to close above $0.58 on a daily time frame.
The Twitter analyst also believes that XRP could revisit lower targets of 48 and 37 cents if the price of Bitcoin retests the region between $25k and $27k. Finally, he believes that when XRP ranges between 0.50c-0.55c is the right time for the BB Jaws to close.
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A Possible 1500% XRP Surge
XRP has continued to grow and gain momentum amidst the legal actions around Ripple. Recently, we reported that XRP is now the most popular altcoin in South Korea. Its market dominance clearly shows in its value. The underlying value exploded from a falling logarithmic downtrend.
The Twitter crypto analyst, @egragcrypto’s research shows that over the past few years, XRP has merged in a “wedge formation” which makes a price surge of 1500% believable.
At the time of writing, XRP’s market dominance is about 2.1%, but Egrag Crypto believes it could eventually grow exponentially to above 30%.
XRP Price Today
Live data from CoinMarketCap show that XRP is currently trading at $0.520113. XRP is ranked #6 on the CoinMarketCap chart with a live market cap of $26,916,248,399 USD. There is a circulating supply of 51,750,810,378 and a max. supply of 100,000,000,000 XRP coins.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.