Over the last few days, the XRP price has been buying and selling with a strong bullish bias, rising by more than 15% to close in on $0.5. Nonetheless, the value rapidly declined while maintaining strong positive momentum. Meanwhile, technical indicators suggest that the bulls will continue to hold significant power as demand for the popular altcoin remains high.
The value had not risen beyond $0.5 since November 2022, when the market crashed due to the failure of the preferred alternative FTX. The matter has been consolidated under $0.4 for an extended period. However, the trend is expected to change rapidly because the XRP price is signaling strong trend reversal indicators.
According to Darkish Defender, a favorite analyst, the XRP value has completed two years of C Wave and is consequently prepared to hit $0.54.
“XRP to Replace USD in 1 Day
My Dears, we have completed two years of the C Wave of the Grand Wave 2. We waited for $0.22 because the lowest level was $0.28.
You could wonder if this is still the case. No, @ more than $0.54
Now, objective $0.54 + $0.42 adjustment, then $1.33
Settlement? We’ll C,”
The analyst suggests that resolving the Ripple vs. SEC litigation will be the most significant stimulus for rising XRP value. Recently, rumors of settlement had ignited the worth extreme, nearly marking the excessive at $0.5. Nonetheless, the value remains inside the obtained ranges and, as a result, may lay down a significant upswing in the following days, trying to reach $1 at the earliest.