Why could the price of Ripple (XRP) skyrocket in the coming days?

 

The XRP price has been stagnant for nearly 4 weeks now (like other cryptocurrencies), even though it has experienced increases in 2023. However, some analysts see in Ripple's XRP stable behavior an increasing probability of significant volatility in the future. They talk about the 'calm before the storm' without knowing exactly where this will lead Ripple's native token. Even though the forecasts are generally positive, XRP may cause some concern for more than one investor. Let's delve into the details.

Signs of an upcoming increase: If we observe the monthly chart, we can see that XRP still maintains an overall upward trend, although not significant. For the past three months, the Moving Average Convergence Divergence (MACD) histogram has been ascending. Moreover, the MACD lines have crossed upwards.

At the same time, the Relative Strength Index (RSI), a widely used equation by traders, remains currently in neutral territory. The next bullish target for XRP is around $0.75, corresponding to the 'Golden Ratio,' where Ripple faced a bearish rejection in November. The golden ratio is a trading adaptation of the concept of the golden number, also known as the perfect equation.

After a bearish rejection at the Golden Ratio resistance around $0.75, Ripple's native token experienced a correction to the Fibonacci support of 0.382, at around $0.57. Ripple then initiated a bullish rebound at this level, indicating a potential re-targeting of the Golden Ratio resistance, which would be around $0.75.

On a weekly basis, the indicators are more mixed. While Exponential Moving Averages (EMA) suggest a medium-term bullish trend, the Relative Strength Index (RSI) remains neutral.

Despite these numerous contradictory signs, analysts lean more towards the hypothesis of an upcoming rise towards $0.75. You've understood that the indicators still remain positive, although uncertainties persist. Let's now focus on XRP forecasts compared to other significant assets.

XRP vs USDT: Regarding its evaluation against USDT, XRP has established consolidation above the support threshold of $0.6. It has neither crossed this level downwards nor shown a significant upward movement. The Relative Strength Index (RSI) hovers around the 50% threshold, indicating a lack of clearly defined trend, neither leaning towards an upward nor a downward direction.

In case of a downward breakthrough, the 200-day moving average could provide support around $0.55. Conversely, a bullish momentum could initiate progress towards the resistance level at $0.7.

XRP vs BTC:

Against BTC, the price trend has been bearish. It has downwardly crossed several support thresholds, failing to stay above the 200-day moving average, which is around 1,900 SAT. Currently, the price is sharply falling towards the support level at 1,250 SAT, a level that could represent a final barrier for buyers.

However, with the Relative Strength Index (RSI) entering oversold territory, a bullish rebound towards the 1,600 SAT level could emerge in the short term before the price reaches the 1,250 SAT threshold."