Amid the bullish market sentiment, XRP price prediction has become a hot topic as the token reaches a crucial level of $3.35. This level is not just an ordinary resistance but is close to an all-time high, following an 8.50% price surge in the past 24 hours.
With this price jump, XRP’s market capitalization has reached an all-time high of $190.26 billion, maintaining its position as the third-largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH), followed by Binance Coin (BNB) and Solana (SOL).
Current Price Momentum
At press time, XRP is trading at $3.22, having recorded an 8.25% price increase in the past 24 hours. Following this impressive surge and its move near an all-time high, there has been significant participation from traders and investors.
According to CoinMarketCap data, XRP’s trading volume during this period has surged by 112% to $14.18 billion compared to the previous day.
This surge in trading volume, along with the price increase, suggests strong upside momentum and indicates the possibility of breaching this hurdle to reach a new all-time high.
Also Read: Tron Crypto Price Hits 7-Month High, Can TRX Reach $0.45?
XRP Price Prediction and Technical Analysis
According to the expert’s technical analysis, the XRP price prediction suggests that the asset is in an uptrend and has reached a key resistance level, which also aligns with its all-time high.
At the moment, the question is whether this momentum will continue and form a new all-time high or if history will repeat itself with a price reversal.
Given the current market sentiment and the formation of candlestick patterns along with price action, XRP appears poised to breach this level. Based on the daily chart, if a daily candle closes above $3.40, strong upside momentum may follow.
Amid this bullish outlook, a well-followed crypto expert made a bold XRP price prediction that has been attracting significant attention from both investors and traders. In a post on X (formerly Twitter), the expert stated that the next target for XRP is $15.
However, the Relative Strength Index (RSI) currently stands at 86, which is extremely high and suggests that the asset is in overbought territory, indicating that a potential correction could occur soon.
In most cases, when an asset’s RSI enters the overbought zone, it either experiences a price dip or undergoes a correction before continuing its upward momentum.
On-Chain Metrics Mixed Sentiment
Despite the bullish outlook, investors and long-term holders have started booking profits, as revealed by the on-chain analytics platform Coinglass.
Data shows that exchanges across the crypto market have recorded an inflow of $36.74 million worth of XRP tokens over the past 24 hours, indicating potential offloading or preparation for a possible sell-off.
Meanwhile, traders appear to be strongly betting on the long side. According to Coinglass data, $3.102 on the lower side and $3.326 on the upper side are over-leveraged levels.
At these levels, traders have built $215.58 million worth of long positions and $95.21 million worth of short positions in the past 24 hours. This suggests that bulls are currently dominating the market and believe XRP’s price could stay above the $3.102 level, with expectations of further upside.
