- XRP has factored in a notable price increase over the last few days as per reports.
- The altcoin’s daily trading volume surged by 46.60% as per CMC data.
The crypto market in the past day has shown short-term bullish signs after days of price dips. While the leading cryptocurrency, BTC, hasn’t shown much action, the same cannot be said for the altcoin sector. Several players have sparked bullish candles and recovered from past days’ dips. Meanwhile, the US crypto regulatory sector has also caused waves in the market.
On the other hand, one of the leading altcoins, XRP has factored in an additional 5.34% price increase in the last 24 hours. The cryptocurrency has reemerged to the $2.55 level utilizing this current surge. In the afternoon hours of January 13, XRP was trading at $2.41 after which it proceeded to fall to the $2.3 level.
However, it gained momentum later in the day to reach current trading levels. At the time of writing, XRP was trading at $2.5708 as per CMC data. On Monday, XRP recorded a 10% surge and eventually took to the spotlight as bulls continued to gain momentum.
Inferring its weekly chart suggests that the cryptocurrency has clocked in an equivalent 5.37% increase. Owing to multiple fluctuations during the past 7 days, the significant surges mentioned above were unable to propel prices further upwards. However, if XRP sustains the current trend, it can be expected to hit $3.
What to Expect for XRP Price in the Coming Days?
On analyzing its price actions, XRP traces an ascending channel in concordance with its current bullish trends. The channel is an indication of forthcoming positive trends and thus it further corroborates the altcoin’s upward momentum.
Furthermore, Ripple’s (XRP) Moving Average Convergence Divergence (MACD) signal line recently crossed over the MACD line. This suggests a positive trend in the altcoin. Finally, its bull power indicator value stands at 8.21 as per TradingView data.
However, its bear power indicator value lies at -2.17 further confirming the bulls overpowering the bears. Finally, other altcoins such as Solana and Ethereum have shown price gains in the past day.
