Despite concerns raised by senior Ripple officials regarding XRP’s low liquidity, the digital asset has maintained its position above 50 cents. The XRP community continues to push for regulatory clarity in the United States as it is crucial for Ripple’s enterprise customers.
However, regular monthly XRP sales remain a significant source of profit for the company, which also sells XRP to ODL clients outside of the US.
XRP Price Targets
A detailed analysis of XRP by popular Twitter crypto analyst @egragcrypto reveals that the Bollinger Band indicator on a higher time frame offers clear XRP price targets. If XRP bulls manage to close above $0.58 on a daily time frame, higher highs may be secured.
At the lower targets of 48 and 37 cents, the analyst believes that the XRP price may revisit this region if the Bitcoin price retests the level between $25k and $27k. The analyst concludes that the perfect setup for BB Jaws to close is when XRP ranges between 0.50c-0.55c.
1500% spike for XRP?
XRP market dominance has moved in sync with its underlying value, which recently broke out of a log-descending downtrend. Egrag Crypto’s analysis suggests that XRP has been consolidating in a wedge formation in recent years, making a more than 1,500% rise in the XRP market possible.
Currently, XRP has a market dominance of about 2.1%, but the analyst believes that it could exceed 31%.
This post The XRP price is about to rise more than 30% in the next few days!
was published first on https://coinpedia.org/altcoin/xrp-price-poised-to-surge-more-than-30-in-coming-days/
