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The price of XRP rose by 14% in just one week and broke a major level of resistance, the new forecast of the price of XRP seems to be very interesting.
XRP has had a strong start to this year, rising 14% in the past seven days as momentum builds in the altcoin market.
The breakout of the key resistance area of ​​this line now supports a bullish trend in the price of XRP in the coming weeks.
The buying pressure is increasing, the volume of sales has increased by 21% in the last 24 hours, which represents 2.6% of the capitalization of the surrounding markets of the symbol.
After five consecutive days of green candles, XRP has broken its bearish structure, opening the door to a move higher if it continues.
Meanwhile, market sentiment has moved on. The Fear and Greed Index reached 42 points, entering the neutral zone after hitting the all-time high of 11 (great fear) at the end of November.
XRP exchange-traded funds (ETFs) have seen a strong flow of funds since their launch in the US. The fund has managed to attract positive investment for 33 consecutive days, which is a good sign of investor appetite for the fund.
As of writing, the total amount in these funds has risen to $1.2 billion. Wall Street’s strong interest in XRP may have helped pave the way for it to climb to new heights.
XRP Price Prediction: A move to $3 seems likely after a major breakout
The daily chart shows that XRP has just broken out of its price range.
The $1.95 area was the most important area that had been in control of XRP.
With the price of the coin approaching $2.20, the stock price has been eliminated. XRP is expected to find support at $1.95 in the next few days to start its rise.
As long as this support zone is active, we can see a strong move to $3 in the next few weeks.
Meanwhile, the Relative Strength Index (RSI) sent a strong buy signal after rising above the 14-day moving average and crossing the middle.
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A note XRP Price Prediction: Years of Waiting May Finally Pay Off – Is This the Boom Everyone Was Expecting? appeared for the first time Cryptonews Arabic.
