XRP Surges 80% in Trading Volume, Eyes Potential $5-7 Range
XRP has been making waves in the crypto market after its price surged by over 80% in 24-hour trading volume, according to Bitget. The asset's recent rally has highlighted it as a coin to watch, particularly among traders monitoring its next move.
Analyst MikyBullCrypto notes that XRP's price chart appears bullish, suggesting a potential rally towards the $5 to $7 range in the future.
The analyst points out that XRP underwent a structural shift following the July and August trading period, when its price remained below $1.00. The digital asset quickly gained momentum from those levels to reach $1.70, marking a significant departure from its previous bearish pattern.
XRP's technical landscape has strengthened above key support levels, with the asset maintaining its bullish trend after leaving behind its previous downtrend.
The relative strength index (RSI) for XRP is approximately 54.83, well below the earlier overbought territory above 75. This level indicates that XRP's momentum remains constructive, with buyers still holding the advantage as long as the RSI stays above its neutral point at 50.