TL;DR
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Analysts dream up targets between $3 and $4 for XRP, only if $2.30 manages to hold the fort 🪖.
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On-chain data gives mixed signals: less XRP on exchanges (yay! 🎉), but RSI at 71 hints we’re overbought (yikes! 😱).
New ATH Incoming?
Ripple’s XRP laughed in the face of the crab market, bouncing a cheeky 12% in the last 24 hours! It skyrocketed to a dazzling $2.77 (thanks, CoinGecko!), then sashayed back to $2.70.
The jester behind the jump? The US SEC giving a nod to Grayscale’s plan to morph its XRP Trust into an ETF. Regulatory green light in 240 days? Investors may soon waltz in without a care for self-custody.
Market sages predict XRP’s ascension. The famed Ali Martinez tweets of a leap to $3 if $2.30 remains steadfast. EGRAG CRYPTO and Mikybull Crypto tossed their hats in, too. EGRAG talks of breaking $2.75 to reach $2.94, casually dismissing anything below $3.40 as “market noise.” Meanwhile, Mikybull’s crystal ball sees an all-time high of $4 winking on the horizon.
What are the On-Chain Metrics Signaling?
The dwindling stock of XRP on exchanges hints at a brewing rally. CryptoQuant shows a significant drop-off, signaling a shift to private wallets. Less sell pressure? That’s bullish. 🐂
But hold your horses! The Relative Strength Index (RSI) tells a different tale. This tool measures the speed and change of price movements, hinting at reversals. Over 70 means overbought, and guess what? XRP’s RSI is chilling at 71. Ominous clouds of a correction loom. 🌩️
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2025-02-14 17:08