The XRP price surged 10% in the last 24 hours to trade at $2.82 as of 09:27 p.m. EST on trading volume that soared 60% to $7.8 billion, according to CoinGecko.
This came after the US Securities and Exchange Commission (SEC) acknowledged 21Shares’ application to launch a spot XRP ETF (exchange-traded fund).
The acknowledgement is an important part of the approval process, indicating a review of the proposed product will get underway.
Ripple Token Price On An Uptrend
The XRP price chart displays a clear upward price trend since October 2024, marked by a sharp price rally from the $0.50 range to a high of $3.40.
XRP’s price action is contained within an ascending channel, highlighted by two red trendlines, indicating that the asset is respecting this bullish structure.
Recently, XRP found support near the lower boundary of the channel and is now attempting to push higher after a brief correction. The price of the Ripple token also bounced off the 50-day Simple Moving Average (SMA), a sign that buyers are stepping in at dynamic support levels.
The upper trendline of the channel, around $3.40, acts as a key resistance, while the lower trendline near $2.3 serves as crucial support.
Meanwhile, the 200-day SMA, positioned at $1.3958, is well below the current price, confirming that XRP is in a strong uptrend from a broader perspective.
The Relative Strength Index (RSI) stands at 57.40, slightly above the neutral 50 level. This indicates a moderate bullish momentum without being in the overbought zone. The RSI recently bounced from near 40, showing that the correction phase might be over and buyers are regaining control.
XRP/USDT Chart Analysis (Tradingview)
XRP Price Prediction
Given the current technical setup, XRP appears to be in a bullish consolidation phase within an ascending channel. If the price continues to hold above the 50-day SMA and the lower channel support, it is likely to retest the $3.40 resistance in the near term.
A successful breakout above this level could push the price of XRP towards the $4.00 mark.
However, failure to maintain support at the 50-day SMA could lead to a retest of the $2.33 zone, with a more significant correction possibly bringing the price down to the $2.00 region.
As the XRP price surges, investors are also snapping up a new AI agency crypto ICO called MIND of Pepe (MIND) . 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says MIND has the potential to soar 10X after its launch.
MIND Of Pepe Presale Hurtles Toward $7 Million – Next Big Crypto?
Investors have already pumped $6.2 million into the MIND Of Pepe project in just its first month.
Its AI agent analyzes social media trends on platforms like X, Discord and Telegram in real time and identifies market trends before they become mainstream. It then shares those insights exclusively with token holders, giving them a key edge.
It’s also the first AI agent crypto to have the powerful branding of the meme coin titan PEPE. Investors can also stake their MIND tokens for a huge annual return of 373%.
Currently, MIND tokens are priced at $0.003332. Interested investors should buy before a price hike in less than 2 days to secure the best deal.
Visit MIND of Pepe .
Related Articles
- Plummeting Elon Musk Meme Coins Highlight Risk That $3.6M Meme Index ICO Mitigates
- Top 5 Meme Coins to Buy Now for Maximum Profit Potential
- Best Crypto to Buy Now
