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XRP’s monthly chart indicates that there is strong bullish momentum backing the altcoin’s price.
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EGRAG CRYPTO predicted that XRP could look to target $0.80 very soon.
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At press time, XRP was worth $0.6042 after its price dropped 1.03% in the past 24 hours of trading.
The well-known cryptocurrency analyst and trader, EGRAG CRYPTO, shared in an X post today that he is excited about what the price of Ripple (XRP) will do next. The analyst pointed out in the post that XRP is currently trading in a very strong upward trend on its monthly chart.
Additionally, EGRAG CRYPTO pointed out that the remittance token is trading comfortably above the 21 EMA, which suggests strong bullish momentum backing XRP’s price. The analyst predicted that the next milestone for XRP will be $0.80 and then $1.3, but highlighted that these targets will only be the tip of the iceberg.
The altcoin’s next “moonshot targets” are expected to be $2.8 and $5.5. However, as of press time, XRP was still trading at $0.6042, having declined 1.03% in the previous day, according to CoinMarketCap. This occurred when the token achieved a peak price of $0.6241.
Meanwhile, XRP’s 24-hour trading volume was able to climb by 0.45%, allowing it to rise to $1,776,722,083. Despite its latest price slip, XRP’s longer-term success was still evident in its weekly and monthly performance.
The altcoin’s price surged by more than 9% in the past week. Additionally, XRP’s price was up by 11.26% on its monthly time frame as well.
Daily chart for XRP/USDT (source: TradingView)
Over the last two days, XRP has been able to conquer the $0.5725 resistance level, converting it to support. The price of the remittance token then proceeded to rise, with an eye on the next barrier at $0.6405. However, it only managed to hit a high of $0.6262 yesterday before the bears began selling their XRP.
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