As popular cryptocurrencies return to lucrative areas, XRP is behind the market as a whole. As of this writing, CoinMarketCap data indicates that the price of XRP is $0.565, down 0.87% over the previous day. XRP has been trading between two significant extremes over the last day: $0.5631 and $0.5722.
The XRP/USDT 1D chart indicates that a breakout in XRP’s price is almost certain. The lower Bollinger Bands have begun to diverge for the token, which is a clear indicator of a shift in momentum. If XRP successfully crosses the Neutral Bollinger Bands, this will confirm that it has the ability to rise to $0.6.
The Moving Average Convergence Divergence (MADC) indicator confirms this possible resurgence in the making. The MACD and Signal lines are equal here, and a significant change might break the present market impasse.
XRP is now one of the tokens that has not seen significant growth in the last week or since the year’s beginning. After Solana (SOL) overtook it in the latter part of last year, it has still been able to hold onto its position as the sixth biggest token.
XRP growth catalyst to watch
XRP has a great growth prospect because of a few traits, but it hasn’t yet begun using them to their full potential. The largest fundamental that may drive the currency’s growth is its usefulness as a payment and settlement token, but even with Judge Analisa Torres’ decision that the coin is not an investment contract in and of itself, the rate at which this fundamental has expanded has been slowing.
Recent moves by XRP whales to upset the existing quo have not been met with the support of ordinary investors, as 24-hour trading volume has dropped from an average of $1.3 billion earlier this year to $900,073,140.
If all these conditions come together and new XRP Ledger (XRPL) protocols gain traction, XRP may be able to make up ground that it has lost.
