{"id":561398,"date":"2023-11-19T14:30:15","date_gmt":"2023-11-19T14:30:15","guid":{"rendered":"https:\/\/wncen.com\/?p=561398"},"modified":"2023-11-19T10:49:19","modified_gmt":"2023-11-19T10:49:19","slug":"crypto-analyst-predicts-xrp-price-will-reach-1-35-as-these-metrics-heat-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-predicts-xrp-price-will-reach-1-35-as-these-metrics-heat-up\/","title":{"rendered":"Crypto Analyst Predicts XRP Price Will Reach $1.35 As These Metrics Heat Up"},"content":{"rendered":"
XRP\u00a0 has experienced a small decline in value over the past few days, coinciding with a period of <\/span>consolidation in the broader<\/span><\/a> cryptocurrency market after four weeks of consecutive price increases. <\/span><\/p>\n Although data from CoinMarketCap at the time of writing puts <\/span>XRP <\/span><\/a>being up by 1.78% in the past 24 hours, a larger seven-day timeframe shows it is still down by 8.68%. On the other hand, price metrics including open interest on futures contracts and a bullish divergence with the RSI indicate the potential for a significant increase in the value of the token in the near future.\u00a0<\/span><\/p>\n According to crypto analyst Will Taylor known as Cryptoinsightsuk on social media, XRP is showing signs of bullish momentum that could drive the price up to his target of $1.35. The analyst took to social media platform X to point out two metrics indicating a bullish price and explain their significance.<\/span><\/p>\n Finally, $XRP<\/a>.$XRP<\/a> actually looks rather different to the other charts I’ve have just discussed.<\/p>\n We had $100m+ of OI added to the market in the highlighted spike (on the day of the fake ETF news).<\/p>\n Since this time, price has moved down and OI has stayed relatively flat. This\u2026 https:\/\/t.co\/qkruUPopJ7<\/a> pic.twitter.com\/SY9pEZs5mr<\/a><\/p>\n \u2014 Cryptoinsightuk (@Cryptoinsightuk) November 17, 2023<\/a><\/p><\/blockquote>\n Exchange data shows more than $100 million of open interest on futures contracts was added to the XRP ecosystem on the day of the fake news surrounding <\/span>BlackRock’s XRP ETF filing<\/span><\/a>. XRP also experienced a <\/span>significant price jump of 16%<\/span><\/a> to $0.75 simultaneously. However, Cryptoinsightsuk pointed out that while the crypto has since lost this price spike, the amount of open interest has stayed relatively the same.\u00a0<\/span><\/p>\nCrypto Analyst Sees Solid XRP Price Action<\/b><\/h2>\n
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