The post XRP Price Volatility Surges Ahead Of Ripple Swell Event! Possible XRP Price Crash Soon? appeared first on Coinpedia Fintech News
The crypto space has started the month of November on a positive note as the market has recorded a stable rise in its value. Further, the 5th largest crypto, Ripple Lab’s XRP price, has displayed a significant uptrend in its chart as it has gained approximately 16% in value within the past week.
The Ripple Swell 2023 is a two-day event which has inaugurated today. This is expected to benefit XRP, in particular, as participants will come together and discuss the intricacies of payments and digital currencies.
On the negative side, the on-chain matrix raises an alert as the Network’s value to transaction records a decline in their value, signaling the investors to make their moves with caution.
The next major resistance level of $0.7 is critical because if the tokens fail to achieve it in the coming days, the price may experience a significant correction in value.
Micheal van de Poppe’s Price Prediction For XRP Coin:
Michael van de Poppe, a well-known crypto analyst with substantial followers over 670K on the “X” platform, has recently posted about the possible retesting level of XRP token this year and the possible opportunity for the buyers.
Following the news of Ripple Lab’s first win against the SEC in May, XRP coin price recorded a massive surge in value as it had gained over 70% within hours. Following this, the price lost momentum and subsequently lost value.
The XRP price recorded a low of $0.38, after which the price traded in a consolidated range and then constantly gained momentum and came back up.
The Relative Strength Index (RSI) has been trading above the mid-point since the year started, indicating a strong bullish influence in the market. Further, the average rises toward its overbought range, suggesting the price will experience a strong uptrend in the coming time.
The analyst suggests if the price undergoes another correction in the coming time and retests to its lower level of $0.54, it is said to be the perfect time to buy this crypto, as the price is expected to reach new ATH in the coming bull run.
#PriceAnalysis #Ripple(XRP) [Source: Coinpedia]