- XRP’s price increased by 2%, with a declining supply on exchanges presenting a potential uptick, indicating reduced selling pressure.
- Analysts predict more gains for XRP, noting the cryptocurrency’s positive outlook if it maintains support levels above $0.55.
- XRP’s market performance and the reduced exchange supply signal a bullish sentiment, with potential targets around $0.65 or higher.
Ripple’s XRP has followed the overall revival of the cryptocurrency market, witnessing a mild price increase of 2% daily. Several hours ago, it briefly surpassed $0.54 before settling at the current $0.53.
XRP Could Reach $24 with Symmetrical Triangle Breakout
Brett, a well-known Bitrue ambassador and influential figure in the crypto world, recently shared an analysis highlighting a symmetrical triangle pattern within an ascending channel for XRP. According to Brett’s insights, a confirmed breakout could target a price as high as $24, representing a significant jump from current levels.
Many analysts are also optimistic that the asset’s valuation will soon advance. CRYPTOWZRD noted on his X apace account that XRP’s daily chart closure was bullish, outlining potential further gains soon.
The analysis shows XRP with a potential upward breakout above $0.55, following a previous downtrend and consolidation phase. The “Quick move above” label suggests a bullish sentiment, aiming for higher levels around $0.65 or beyond. The overall trend indicates a positive outlook if the price holds above key support levels.
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XRP Gains 1.4%, Market Cap Hits $30.39 Billion
XRP’s price has shown an upward movement, increasing by 1.4% in the past 24 hours trading at $0.5393 as per the press time. The cryptocurrency’s market capitalization stands at approximately $30.39 billion, with a fully diluted valuation of nearly $53.94 billion.
Source: CoinGecko
XRP’s 24-hour trading volume reached $926.63 million, indicating active market participation. The circulating supply is 56.33 billion XRP tokens out of a total supply of around 99.99 billion. The price has fluctuated within a range of $0.5273 to $0.5432, with the chart indicating a modest recovery after a dip, suggesting ongoing market interest and potential for further gains.
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