Like many other major cryptocurrencies in the market, Ripple (XRP) is recovering. The token has in fact started to consolidate around a crucial support zone, making it a potential pick for an upward rally in the near term. But how will this happen? Some analysis here below but first, a few highlights:
XRP has found sufficient support around $0.6 and in fact, it has been consolidating around this threshold.
If these gains hold further, XRP could surge 20% and hit the $0.757 mark in the coming days.
At the time of writing, the token was trading at $0.61, up around 4% in 24-hour intraday trading.
Data Source: Tradingview.com&
Ripple (XRP) &- price prediction and action
For the last ten days or so, we have seen XRP test the $0.6 barrier. In fact, it would appear that the token is consolidating around this price with volatility almost gone. Unlike other crypto assets, XRP has been hovering around gains and losses of between 2 and 4%.&
This could suggest that it is finding a lot of strong support at $0.6. If indeed Ripple is able to keep gains above that threshold, then it is possible it could surge by nearly 20% in the coming days. This will take the coin to a price tag of $0.75, closer to its 50-day SMA of $0.77.
Why you should buy Ripple (XRP)
Forget about the recent crash in crypto. There is no doubt that the market will recover, and besides, most experts agree that a correction was probably due. Ripple (XRP) is one of the leading crypto assets in the world.&
If you are looking for the perfect coin to ride the crypto recovery in 2022, then it is a great choice. Besides, the coin was one of the best performers in terms of ROI last year.
The post Ripple (XRP) starts massive consolidation in price – Is a 20% upward surge in the cards? appeared first on Coin Journal.
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