Ripple’s XRP had a momentary surge Tuesday morning, climbing 6% in the trading opening hours and driving optimism. The asset has underperformed along with most of the crypto market in August, staying under $0.60 most of the month. However, the market seems to have rebounded slightly this week, and XRP has increased by 3% in 7 days. Is $0.65 and beyond soon for Ripple’s native asset?
Ripple XRP’s market cap has surpassed $33 billion, while its trading volume has surpassed $1.5 billion. Activity around the asset is high, with investors hoping that more interest around XRP can drive it back upwards. Additionally, other crucial numbers around XRP are growing, signaling bullish momentum. The Relative Strength Index (RSI) indicates that XRP could continue its surge toward the $0.66 resistance level. The signal line has risen above 50% and is trending around 69%.
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Furthermore, multiple market analysts are raising their price predictions for Ripple XRP as August comes to a close. There is wide belief that the entire market will gear back up for a green September. Ripple charts have shown an emerging pattern that could lead XRP to beyond $0.65, as high as the $0.94 price. The token’s weekly chart has shown a symmetrical triangle that has been forming since late 2021. This is usually the precursor to a massive breakout when the token moves ahead of its upper trendline. The pattern usually shows consolidation followed by notable upward price movements.
How high XRP can go is up for debate, however, likely, $0.65 is certainly on its way soon. If XRP does that threshold, it is also likely that XRP could catapult to the $0.94 price. As Ripple’s token continues its quest to $1, it has faced significant hurdles. With the SEC case behind it though, perhaps the shackles are off. September will be a big month for XRP that can dictate how the remainder of 2024 pans out for the asset.