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 (XRP) is the native crypto of the XRP Ledger (XRPL). XRPL is an open-source public blockchain launched in 2011 by Ripple, a blockchain-based payment system. XRP is used as a transaction fee on the native network and a potential payment and investment option.
Ripple captivated the interest of investors with its distinct consensus protocol. It functions based on a federated consensus mechanism to validate transactions. The network allows any user to use the validation software and verify transactions according to their “unique node lists”. Thus, transactions are validated onto the ledger within 4-5 seconds at lower costs.
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 descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of XRP (XRP) was recorded at $0.5526. If the pattern trend continues, then the price of XRP might reach the resistance levels of $0.6114, and $1.0511. If the trend reverses, then the price of XRP may fall to the support of $0.4223.
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 $0.7361. Comparatively, if unfavorable sentiment is triggered, the bearish XRP (XRP) price prediction for 2024 is $0.4142.
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.