The XRP price is closely monitored by investors. The XRP, which reached $ 3.39 in January, has recently declined to $ 1.95. However, the XRP, which is traded with green candles today, attracts the attention of investors again. So, can Ripple exceed $ 3? Is there even a possibility of reaching $ 6?
Critical support levels for XRP
The latest decreases in the XRP price worried investors. However, experts have announced critical support levels for the XRP to rise again. Analyst Ali Martinez said that XRP should maintain $ 2.27. He predicted that Ripple could reconstruct $ 3 if it remained above this level.
Another analyst Rose Premium Signals drew attention to the importance of $ 2.41. If this level is preserved, the XRP is expected to rise up to $ 3.12 and $ 3.73. These analyzes show that XRP may experience a strong rise in the coming days.
Can Ripple reach $ 6?
If XRP exceeds $ 3, the possibility of reaching $ 6 came to the agenda. Analyst Dark Defender said Ripple completed the consolidation process in the daily graph. The low levels in the RSI indicator indicate that XRP may rise up to $ 5.85.
According to Dark Defender, the XRP is preparing for the third wave movement. This wave can carry XRP to 5.85 and even $ 8.76. However, for this scenario to take place, the level of $ 1.88 and $ 2.33 must be protected by support.
XRP ETF and Market Effect
Positive expectations about the future of Ripple became even stronger with the possibility of ETF. Nasdaq applied to the SEC for Coinshares Ripple and Litecoin ETFs. This development can increase the interest in XRP. In addition, the Ripple-SEC case is not expected to block Ripple ETF.
Pro-XRP lawyer Jeremy Hang said that the decision, “XRP is not a securities, is not enough” is sufficient for ETF approval. This may reduce legal uncertainties in front of XRP.
Conclusion: What will be the future of XRP?
The XRP is today traded for $ 2.49 with an increase of 2.5 %. However, the 24 -hour transaction volume decreased by 20 %and decreased to 4.48 billion dollars. Ripple, which has a RSI indicator of 42, has technically rising potential. It is critical for the XRP to maintain $ 2.27 and $ 2.41. If it receives support from these levels, Ripple may exceed $ 3. There is even a possibility of reaching $ 6. However, the volatility and macroeconomic uncertainties in the market require investors to be careful.
In short, Ripple is likely to experience a strong rise in the coming weeks. However, investors should not leave the risk management.
