XRP Price Rises 7% as This ICO Hits $7 Million

The price of CoinGecko.

The pump helped make the Ripple token the hottest crypto on the market. CoinMarketCap.

XRP price prepares for a bullish rally

THE XRP Price The chart shows that the Ripple token saw a significant parabolic rally earlier, as evidenced by the sharp price increase highlighted by the blue channel. This rally took XRP from around $0.5254 to a high of around $2.84 in a short period of time.

Since reaching its peak, XRP price has entered a sideways consolidation phase, fluctuating in a horizontal range between approximately $2.24 and $2.61. This consolidation reflects a period of indecision, where buyers and sellers are relatively balanced.

Additionally, XRP price remains well above the 200-day simple moving average (SMA), which is hovering around $1.0038, indicating a long-term bullish trend. The 50-day SMA is also trending higher and currently provides dynamic support near the $2.24 level, strengthening this key support zone.

Meanwhile, the Relative Strength Index (RSI) currently sits at 59.44, slightly below the overbought threshold of 70. This suggests that the market has calmed down after the previous rally but remains in bullish territory. The RSI is hovering near neutral levels, signaling consolidation with the potential for renewed momentum.

The Moving Average Convergence Divergence (MACD) also supports the bullish outlook, as the blue MACD line crosses above the orange signal line.

XRP/USDT chart analysis (Source: Tradingview)

Ripple token price prediction

XRP is currently consolidating within a well-defined range. A break above the $2.61 level could push XRP price to continue the previous uptrend, potentially aiming for $3.50-4.00 in the medium term.

Conversely, a break below this level could trigger a retracement towards the next support zone near $2.00 or the 50-day SMA, or Ripple price could plunge further towards the support zone of 1 $.98.

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