XRP Price Prediction: XRP Pumps 10%, But Watch This GambleFi New Boy For Potential Exponential Gains

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The XRP price is up 10% in the last day, pumped by a 135% increase in 24-hour trading volume. It is trading for $0.6798 as of 2:02 a.m EST, after the remittance token escaped from the consolidation phase, a zone extending from the $0.4735 support floor to $0.5392.

The odds continue to favour the upside for XRP, but watch this GambleFi new boy for potential exponential gains.

XRP Price Has Bullish Fundamentals

XRP boasts a position among the few assets with regulatory clarity after Ripple’s victory against the US Securities and Exchange Commission (SEC). The financial regulator’s failure to beat the appeal deadline only served to solidify the victory for the XRP community. It pointed to the commission capitulating and had experts such as lawyer Jeremy Hogan saying the case was effectively over.

#XRP is the first digital asset with regulatory clarity in the United States of America! 🚀📈 pic.twitter.com/tL0Vy7ErbD

— JackTheRippler ©️ (@RippleXrpie) November 6, 2023

Meanwhile, the surge in XRP comes as Ripple dominates the crypto trading landscape in South Korea. It has outperformed even the leading cryptocurrencies, Bitcoin and Ethereum, and most of the altcoins on metrics of trading volumes on one of South Korea’s largest exchanges, Upbit.

Citing an excerpt from recent research by Kaiko, “South Korean millennials favor Ripple’s XRP over Bitcoin and Ethereum.” Notably, the research also aligned with findings from a CNF report.

The uptick for Ripple price began on Sunday and could continue through the new week as technical indicators show promise. However, a lot hinges on how the XRP holders play their hand from here on out.

🚦🟢 #XRP Is Feeling Like Flexing 💪🏼 This #Sunday Climbing 🧗‍♀️ The Charts Like It’s Tired 🥱 Of Holding Back! pic.twitter.com/cHaCqLFLc4

— Ci$o (@CisoMusic) November 6, 2023

XRP Price Forecast With Technicals Looking Promising

After a 10% surge in the last day, the Ripple price still shows resolve to continue the uptrend that commenced in mid-October. Thus far, the remittance token boasts almost 45% in gains, with the price action defined by higher highs and higher lows.

Increased buying pressure could see Ripple price break past the 40.6968 resistance level, which was last tested in early August. A break above this level could set the tone for a stretch to the supply zone. The supply zone is an order block where rice tends to correct because of massive selling pressure. In the daily chart for the XRP/USDT chart, it extends from $0.7771 to $0.8199.

For a confirmed uptrend, Ripple price must record a decisive daily candlestick close above the midline (Mean threshold) of the supply zone at around the $0.8000 psychological level. This could see XRP flip this order block into a bullish breaker as it aims for the $0.8500 resistance level, or in a highly bullish case, extend to the range high at $0.9380. Such a move would constitute a 40% climb above current levels.

The Relative Strength Index (RSI) is above the 50 level, sustaining an overall uptrend to show more bulls are still coming in. The Awesome Oscillator (AO) in the positive territory with deep green histogram bars support the outlook, showing bulls are leading the Ripple market.

Converse Case

On the other hand, considering the position of the RSI above the 70 level, at 85, it shows XRP is massively overbought. With this, a correction may be imminent for Ripple price and traders should not be surprised.

This stance is also plausible considering Bitcoin price is showing signs of a pullback with multiple sell signals, worsened by a lack of positive ETF-related news. In this regard, it is worth noting that BTC’s correlation with XRP is positive, which means a pullback in Bitcoin could bring Ripple price down along with it.

A rejection from the $0.6968 resistance level could see Ripple price lose all the ground covered since the weekend, testing the $0.6242 support level. Further south, the slump could send XRP below the $0.5705 support level or lower into the consolidation phase between $0.4735 and $0.5392. In the dire case, the load-shedding exercise could culminate in a fall to the multi-month low of $0.4454. Such a move would denote a $35% fall below current levels.

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