In this XRP (XRP) price prediction for 2024, 2025-2030, we will analyze the price patterns of XRP by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
XRP Current Market Status
What is XRP (XRP)
XRP is a cryptocurrency that serves as the native token of the XRP Ledger, which is an open-source blockchain developed by Ripple Labs. Ripple, a technology company, aims to enhance global financial transactions by offering quick and cost-effective solutions for cross-border payments.
The XRP Ledger (XRPL), which was launched in 2011, is an open-source public blockchain, where XRP is used for transaction fees and as a payment option. Further, Ripple’s unique consensus protocol, utilizing a federated mechanism with “unique node lists,” has drawn significant investor interest.
In terms of legal matters, the lawsuits against Ripple’s executives were dismissed last October. In a significant ruling in July 2023, Judge Torres determined that XRP is considered a security when sold to institutional investors, but not when sold to the general public. Both Ripple and the SEC viewed this decision as a partial victory.
The legal saga began during the pandemic in December 2020 when the SEC filed a lawsuit against Ripple and its top executives, co-founder Christian Larsen and CEO Bradley Garlinghouse, claiming they created an “information vacuum” that enabled them to sell over $1 billion worth of XRP in the market.
XRP 24H Technicals
XRP (XRP) Price Prediction 2024
XRP (XRP) ranks 7th on CoinMarketCap in terms of its market capitalization. The overview of the XRP price prediction for 2024 is explained below with a daily time frame.
In the above chart, XRP (XRP) laid out a horizontal channel pattern also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, the line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of XRP (XRP) was recorded at $0.8011. If the pattern trend continues, then the price of XRP might reach the resistance levels of $0.8576, and $1.2674. If the trend reverses, then the price of XRP may fall to the support of $0.6556 and $0.4491.
XRP (XRP) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of XRP (XRP) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of XRP (XRP) for 2024.
XRP (XRP) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (XRP) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current XRP (XRP) market in 2024.
XRP (XRP) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of XRP (XRP) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of XRP (XRP).
Comparison of XRP with BTC, ETH
Let us now compare the price movements of XRP (XRP) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of XRP is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of XRP also increases or decreases respectively.
XRP (XRP) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of XRP (XRP) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If XRP (XRP) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish XRP (XRP) price prediction for 2024 is $1.3943. Comparatively, if unfavorable sentiment is triggered, the bearish XRP (XRP) price prediction for 2024 is $0.3037.
If the market momentum and investors’ sentiment positively elevate, then XRP (XRP) might hit $2. Furthermore, with future upgrades and advancements in the XRP ecosystem, XRP might surpass its current all-time high (ATH) of $3.84 and mark its new ATH.
This content was originally published by our partners at The News Crypto.