Despite experiencing a sluggish price pace for a long time, the XRP community is hoping for a terrific Ripple comeback in terms of its valuation and pricing. The token has noted a gradual price ascent as of now, trading within the $0.50–$0.60 price range.
XRP’s price chart shows how the token has recently avoided a bearish cross-development, fueling the speculative spree.
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XRP Avoids Bearish Cross
Per Egrag Crypto, XRP has recently avoided a bearish cross, which could have further derailed the price of Ripple to new levels.
The analyst shared in a post last month how XRP was entering a bearish cross zone on its monthly chart, which was indicative of declining price metrics. The analyst quickly reiterated that XRP was heading towards a novel new formation that may be different from the token’s previous cycles and data.
“In the post dated April 8th, 2024. I briefly stated that “the #XRP ASO indicator is surprising even to experienced analysts. A unique pattern is forming. possibly leading to a bearish cross in the ASO. This formation is different. Hinting at a new pattern. 🔄#XRPArmy, be prepared for a potential utility run. As this cycle might not mirror previous ones. ⚡️”
He recently went on to corroborate the new price development on the XRP chart, adding that the token has indeed been approaching the bearish cross zone in its monthly chart readings.
“Current Status: Surprisingly Bearish Cross Alert! Let’s focus on the data and not emotions. The chart below is currently experiencing a bearish cross after 275 days within the bullish cross. In previous cycles, we witnessed a bullish cross followed by an all-time high (ATH) after 275-273 days consecutively. However, this time might be different unless we hit #ATH or experience a major pump in July or August 2024.”
Bearish Cross-developments in trading, as the name suggests, are elements that put pressure on an asset’s price and may impact its movement in a more negative sense. In a bearish zone, the price of an asset plummets to new lows, which may affect the asset’s steadiness in the long run.
However, in a more recent update, the expert pointed out that XRP has finally deviated away from the bearish cross-zone, which may bring a significant price impact for the token to bask in very soon.
XRP Price Forecast: $1 Dream Coming True?
According to Egrag Crypto, since XRP has avoided the bearish cross-zone, ripple may soon encounter a bullish phase. But first, the token will have to cross its critical price level of $0.75 to bank on the current bullish market wave.
According to CoinCodex, the token may experience a surge in the upcoming weeks, pushing its price up a notch.
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“Based on these XRP projections. XRP will be changing hands at $0.584007 on June 16, 2024, gaining 16.92% in the process.”
CoinCodex predicts a 20% surge in XRP in June, helping the token reach the $0.60 price mark.
“According to our current XRP price prediction. The price of XRP is predicted to rise by 20.73% and reach $0.603067 by July 9, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 75 (greed). XRP recorded 14/30 (47%) green days with 2.03% price volatility over the last 30 days.”