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Ripple (XRP) Price Prediction: Ripple Effect to Push XRP Up 10%?

XRP
XRP

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XRP could be shaping up for a significant surge, according to a YouTuber and founder of CryptoSea, Daan de Rover. He revealed this information on the popular social media platform X on September 9.

Despite this positive outlook for XRP, it mostly remained in the red zone over the last seven days, displaying a decline of 4%.

XRP Sell Pressure Drops – Is Bearish Trend Coming to An End?

After launching into September at $0.51, XRP continued its downtrend for over seven days. However, there were some upticks on September 4, bringing it to the month’s high of $0.5121.

As of 5:46 AM EST on September 11, XRP trades at $0.48, representing a decline of nearly 4% over the last 24 hours. While this decline remains vivid on the token’s market condition, the XRP transactions were on an uptrend.

This is evident in its trading volume surge of 110% over the past day. XRP now holds a volume of almost $813 million. As the trading volume reveals, the buying spree is slowing down the sell movements’ pace.

XRP Drops Below the SMA Indicator, and Bearish Sentiment

Looking at the daily chart, XRP/USD has fallen below its Simple Moving Average (SMA) indicator, which signifies a potential shift in its trend. This could indicate a bearish trend, signaling that the coin may continue to face downward pressure.

Traders often interpret this as a possible selling opportunity or a signal to exercise caution. However, the Relative Strength Index (RSI) reading of 28 indicates that the coin is oversold. 

Notably, a reading below 30 typically suggests the asset is undervalued or experiencing excessive selling pressure. Traders might view this as a potential buying opportunity, anticipating a price correction or reversal. 

Also, the Moving Average Convergence Divergence, MACD, shows that the bulls are trying to build up momentum, evident in the rising green histogram bars.

The MACD above the signal indicates a strong bullish momentum, and if the buyers can sustain this momentum, the price may rebound anytime soon.

Overall, investors might be preparing to enter the market now due to XRP’s low rate. However, it’s crucial to consider other factors and conduct thorough research before making any trading decisions. 

Bearish Trend Persist As Market Falls Below Trendline

Based on the daily chart, XRP has fallen below the bullish trendline, which supports the bearish outlook in the market today. Two possible scenarios could unfold from here. The coin’s price may target the monthly low at $0.42, signifying a further decline if bearish sentiment persists. 

On the other hand, if the bulls reclaimed the market, the price would head toward a primary resistance level of $0.98. But in all, it’s crucial to exercise caution and consider various technical indicators and market fundamentals before making trading decisions.

XRP Adoption Increases in Developed Economies

In a recent tweet, the founder of Crypto-Law.US, John Deaton, unveiled the geographical breakdown of the 75,000 XRP holders’ positions.

Based on his findings, the United States claims the top spot, boasting the largest share of XRP holders within the list. He pointed out that 53% of the entire 75,000 XRP holders hail from the U.S.

Furthermore, the renowned crypto legal expert highlighted that the United Kingdom secures the second position, while Australia follows closely as the third most represented nation on the list. Deaton also noted that Australia maintains a slight edge, with just 11 more individuals than Canada.

This data highlights the growing adoption of XRP, a trend that could potentially influence its future price. This aligns with some experts’ predictions who anticipate it reaching a peak price of $4.97 in the coming years.

However, considering the volatile nature of Ripple Coin, investors can find heaven in emerging tokens, like Bitcoin BSC, that remain immune to such uncertainties.

Ripple Coin Alternative – Bitcoin BSC (BTCBSC)

BTCBSC revolutionizes the game by allowing token holders to stake their assets and enjoy substantial rewards.

The staking pool is now accessible and remains relatively small, boasting an estimated Annual Percentage Yield (APY) of 615%. Notably, prominent figures like crypto analyst and YouTuber Jacob Bury and Alessandro De Crypto have taken notice of the token’s strong presale performance, amassing more than $1 million in funding.

In a recent video, Bury discussed the cryptocurrency’s potential to deliver returns ten times the initial investment, emphasizing the significance of its Stake-to-Earn feature.

Interested investors should rush now and grab as many coins as possible before the presale ends. Also, for those interested in exploring investment options in low-cap cryptocurrencies, check out this guide to the best selections available.

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