As the market rises 1.5% today, the price of XRP has increased by 1% over the last 24 hours to $0.559752.
XRP is one of several altcoins that have benefited from the market-wide surge that occurred last week. It has increased by 5% in the previous week and by 13% over the last two weeks.
Additionally, the currency has increased by 65% since the start of the year, and it still has enough medium- and short-term momentum to increase over the coming weeks.
Forecast for XRP’s Price as It Sudden Rises 2.3%: Is It Time to Invest?
As of right now, XRP is still in the midst of an uptrend that is still ongoing.
XRP Surges 2.3% Unexpectedly: Should You Consider Buying,XRP Surges 2.3% Unexpectedly: Should You Consider Buying
There is still time before the present rally peaks because its 30-day moving average (yellow) has only started to rise towards its 200-day average (blue).
This indicates that investor sentiment is still positive and suggests that more gains are probably in store for the foreseeable future.
The fact that the coin’s 24-hour trading volume is still over $850 million, considering that it was as low as $275 million in mid-October, is also promising.
Once more, this indicates that XRP is still in a boom period, which has been sparked by optimism about possible approvals for Bitcoin ETFs.
Investor morale has significantly improved as a result of growing confidence in the impending ETF approvals, with more people feeling optimistic about the bitcoin market’s long-term prospects.
This has helped XRP, which has also profited from the current upswing in the Ripple and SEC legal dispute.
Specifically, the SEC withdrew from a scheduled trial in the last few weeks over the subject of whether executives at Ripple knew that the cryptocurrency company was breaking securities laws.
Naturally, it may take many more months to negotiate the precise amount of a settlement penalty, which is why XRP hasn’t increased as much as it should have.
However, given the coin’s foundations, it will see a sharp increase in value once the lawsuit is resolved in full next year.
Therefore, it is still a good moment to purchase the token at a reduced price, particularly because 2024 may see a return to $1 for XRP.
Faster Profits With More Recent Altcoins
As XRP is currently awaiting the resolution of all legal actions involving the SEC and Ripple, a full recovery may not occur for some months.
Because of this, traders seeking for quicker returns could opt to look elsewhere. This year, several more recent alts and presale tokens have been particularly profitable.
TG.Casino (TGC), a decentralised gaming platform that has generated more over $1.5 million since beginning its sale a few weeks ago, is one of the most promising presale coins currently available.
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