Last week wasn’t good for the Ripple XRP price, which dropped from $0.63 to a low of $0.57 on April 03. This negative trend occurred as the BTC dropped slightly, affecting the broader market movement.
Fortunately, the market sentiment changed to bullish, and the XRP price reversed from this level of $0.57 to $0.60.
Even when a crypto tracking firm revealed that 24.8 million XRP tokens had been moved to an exchange on April 07, 2024, this movement didn’t influence the XRP price.
XRP has increased by almost 1% in the last 24 hours and 2.37% in the past seven days. According to CoinMarketCap, the daily volume has increased by 47.7% to over $2 billion.
This shows that the rate at which investors trade the coin has increased in the past 24 hours. The question now is: What’s the next price target for XRP?
XRP Price Analysis: XRP Holding Bullish Trendline, May Present Buying Opportunity
XRP maintains a bullish trendline that held the price when the bears attempted to pull it below $0.57. If the bulls can sustain this upward-sloping trendline, it would keep the overall bullish momentum intact.
XRP’s price is currently hovering around its 50-day SMA (yellow line). A break above this shorter-term average could fuel additional bullish continuation. Also, XRP is still trading above its 200-day simple moving average (the green line), showing that the bulls are still in control over the longer timeframe.
Further, the fading red bars on XRP’s MACD histogram indicate that bearish selling momentum is dropping. This suggests that more buyers are gradually entering the market.
These technical factors point to XRP defending its uptrend well during this latest pullback. Based on this analysis, investors waiting for a suitable entry point may soon consider opening some long positions on XRP.
Of course, no trade should be made based solely on this technical analysis; consider other factors below that could affect prices, too.
XRP to Hit $1000, Says Crypto Analyst
In a post on April 04 via X (formerly Twitter), a known analyst, BarriC, said XRP’s price might reach $1,000 in the next five to ten years. Even though that is unbelievable, BarriC explained why he thinks XRP can achieve this level.
He said XRP will rise because a lot of “personal wealth,” about $400 trillion, could come into crypto.
I’ve put a lot of thought into $XRP going to $1,000
This isn’t an arbitrary number I’ve pulled out of my ass for the fun of it
I look at where the #Crypto market was when I first got into it in 2016$BTC @ $330$LTC @ $3
Then comes 2017$ETH @ $10$XRP @ 0.008
At the time…
— BarriC (@B_arri_C) April 4, 2024
Also, institutions might invest more in crypto, which could increase XRP’s price.
In BarriC’s words,
“There’s over $400 trillion dollars of personal wealth on the sidelines that has yet to come into crypto, let alone the institutional money!”
In addition, he pointed out that Bitcoin’s price went up because of Spot Bitcoin ETFs. So, he believes Ripple XRP could also increase if institutions express interest in an XRP Spot ETF.
BarriC said XRP won’t hit $1,000 only if Ripple fails in what they’re trying to do. But he thinks that’s unlikely. He believes the crypto market and Ripple will keep growing like they did since 2016.
He admitted some people might not believe XRP could reach $1,000, but he said the same happened to Bitcoin in 2016, and now it’s worth $74,000. Meanwhile, BarriC is not the only analyst that is bullish on XRP.
Can Ripple (XRP) Reach $2,500 Following Analyst Prediction?
Crypto analyst Egrag Crypto once presented a more bullish prediction for XRP, suggesting the coin could reach $2,500 by 2029. From XRP’s current rate of $0.61, that’s an increase of more than 416,567%.
Unfortunately, XRP YouTuber Moon Lambo disagreed with these predictions. He thinks there isn’t enough money to make XRP worth thousands.
Moon Lambo also said that new money going into crypto will not all go into XRP. So, we can’t predict such a high price based on future crypto money. Considering these differing perspectives, whether XRP can reach $2,500 in the next few years remains uncertain.
It largely depends on various factors, including the level of adoption, investor sentiment, regulatory developments, and the overall trajectory of the cryptocurrency market.
Given all these varying predictions on XRP, investors who aren’t convinced by the coin’s growth should consider this coin people are rushing to buy now.
Dogecoin20 Token Getting Prepared to Enter DEX this Month – Last Chance to Buy
Dogecoin20 is now the hottest meme coin in the market, raising $10 million in just over a week. Investors have their final opportunity to participate in its presale before its DEX launch on April 20.
Also, this day is considered Dogecoin’s day, and prices will likely increase significantly. The presale price is $0.00022. But after it’s on exchange, the price may change depending on how many people want to buy it.
Get Ready for Dogecoin20: The Next Big Thing in Meme Coins
Dogecoin20 aims to blend financial innovation with meme coin excitement, offering potential benefits similar to Dogecoin but with added utility. Dogecoin20 introduces Stake-to-Earn, allowing users to earn rewards on their investments with an initial Annual Percentage Yield (APY) of 106%.
The project also features a capped token supply inspired by Bitcoin’s sound money principle. This is to safeguard against inflation and maintain long-term value.
In line with Dogecoin’s belief of “Do Only Good Everyday,” Dogecoin20 plans to support charitable initiatives and community projects.
As excitement builds for its exchange launch, analysts are optimistic about Dogecoin20’s prospects. Based on this, the project looks bullish and may be worth holding for a long time. But to profit more from this coin, now might be the best time to make that decision.
To learn more about the project on X, visit its Telegram channel.