XRP’s value is still trailing as the rest of the market shows obvious signs of revival. However, the market suddenly seems to have taken a break from April’s rally.
The market is again bearish. The Federal Open Market Committee has created uncertainty around the upcoming crypto interest rates.
The move of the US Central Bank is also unpredictable. So, where’s XRP headed?
The coin has lost around 8.9% in the last week, and the loss during the previous 24 hours is even more crucial: 2.7%. The value of each coin now sits at $2.08.
Ripple’s Turn Now
Despite a transient setback, Ripple has adopted a native stablecoin, Ripple USD. It seems the coin is gradually gaining traction, so there is an air of unusually bullish price prediction around XRP.
XRP Needs To Stay Afloat
The daily chart suggests that XRP is soon approaching a support level. Its 200-day exponential moving average provides the data. This is a popularly watched technical indicator that suggests a long-term downward trend.
The 21-day EMA breakout from last month marks a higher high. Currently, the token’s valid low is about $2.02. If the coin can overcome this level, this uptrend will continue.
Growth Projections
XRP might not rise to an abrupt $100 level. However, the coin’s long-term projection is quite bullish. So long as DeFi coins like RLUSD keep performing, the coin’s value will stay upright!
