Analyst suggests rise in XRP price with close above this level

XRP price has been in an ascending trend line for the past few days. The cryptocurrency has seen growth of 12.8% in recent days. Crypto analyst with the pseudonym EGRAG CRYPTO recently examined XRP’s next price target.

In a post on the X app on November 4, the expert highlighted that XRP is showing an increase in its trading activity. Furthermore, the cryptocurrency’s key indicators indicate a possible uptrend and a possible price target of $1.3.

The cryptocurrency analyst highlighted that if XRP manages to close above the $0.58 price level it is a sign of an upward trend for the token.

“Ahead of this weekly candle for an in-depth analysis of its formation, which will offer insights into the behavior of upcoming candles. A close above 0.58c with confirmation signals a Bullish trend, but it is crucial that the candle formation follows a Bullish pattern,” she wrote.

According to the expert, the previous rise to 0.93c served as a retest of the upper price range. “While XRP can experience a rise and fall of up to $1.3, the real litmus test is closing above $1, a key psychological level for traders. STAY FIRM, because my psychological goal is set at $10 and beyond!” he highlighted.

#XRP Bent Fork $15 (UPDATE-Zooming In Version):

🕯️ Anticipating this weekly candle for an in-depth analysis of its formation, which will offer insights into the behavior of the next few candles 📊🕵️.

💪 A closing above 0.58c with confirmation signals a #Bullish trend, but it’s… https://t.co/nmvPLfbkU0 pic.twitter.com/oJB4GtIAWt

— EGRAG CRYPTO (@egragcrypto) November 4, 2023

It is worth remembering that cryptocurrency analysis platform Santiment shared recent data on its observations on XRP price movements in October.

Santiment noted that XRP revisited the $0.60 market cap for the first time since its crash on Aug. 16. “Along this return path, we saw the whales gradually become more involved. Additionally, there are now #alltimehigh 277.62 thousand wallets containing at least 10 thousand $XRP,” the platform noted.

At the time of publication, the price of XRP was listed at US$0.614530, up 1.2% in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.