XRP Just Entered the Danger Zone — Here’s What Traders Are Watching Closely (XRP Price Prediction)

The XRP price has risen slightly in the past 24 hours, with its move to $2.44 coming as the crypto market as a whole posts a 1.5% loss today.

This puts XRP up by 1% in a week and by 7% in the last 30 days, with the alt also boasting a 360% increase in the past year.

However, as positive as things have been for XRP in recent weeks, its chart has begun moving towards an increasingly overbought position, suggesting that a short-term correction could be coming.

This won’t change its long-term price prediction though, with XRP remaining arguably one of the fundamentally strongest tokens in the market.

XRP Just Entered the Danger Zone — Here’s What Traders Are Watching Closely (XRP Price Prediction)

XRP has been on an upward curve since the middle of April, and it’s arguable that it’s now nearing a point where it may consolidate or dip a little.

Probably the most significant detail is that the coin’s 30-day average (orange) has been well above the 200-day (blue) since early November, suggesting that a comedown is now overdue.

On the other hand, its relative strength index (purple) isn’t quite as clearcut, given that it had been below 50 since early February.

And it has been above 60 for only a week or so, so it would suggest that XRP still has time to post more gains before it enters a decidedly overbought position.

Indeed, if we look at the latest CoinShares Digital Asset Fund Flows report, we see that XRP funds attracted $5 million in new volume in the week to May 19.

This puts XRP fourth (behind Solana, Ethereum and Bitcoin) in terms of total assets under management, with digital funds now holding a total of $1.42 billion in the token.

In fact, the past couple of days have seen some major XRP whale moves, with one investor taking $567 million in XRP off Kraken on May 21.

Demand for XRP is therefore still strong, and with the market still waiting on ten applications for spot-based XRP ETFs in the US, we could see massive moves for the coin later in the year.

Based on this, we could see the XRP reach $3 by the end of the summer, and $4 by the end of the year.

New Altcoins with Strong Bull Cases

As strong as XRP remains, it won’t be the only coin to perform well over the summer, as the crypto market continues the recovery from its Q1 lull.

There will also be various new coins that do well in the coming months, with new alts often outpacing the market during their initial phases of discovery.

This is also likely to include a handful of the best presale tokens, which generate big momentum during their sales and then rally once they list.

One coin likely to do this is Bitcoin Bull (BTCBULL), which has now raised $6.2 million in its ICO.

What’s interesting about Bitcoin Bull is that it’s a deflationary token, with a hard cap of 21 billion BTCBULL.

Not only that, but it’s tied its tokenomics to the performance of Bitcoin (BTC), with the coin burning a percentage of its total supply whenever BTC reaches a new $25,000 milestone.

It will also hold Bitcoin airdrops when BTC reaches new $50,000 milestones, beginning with $150,000.

This could make BTCBULL a very profitable coin to hold, particularly when, as an Ethereum-based token, holders will be able to stake it for passive income.

To join its presale, you can go to the Bitcoin Bull website and connect a compatible wallet, such as Best Wallet.

BTCBULL currently costs $0.002525, but this will rise again tomorrow, and will continue to rise until the sale ends.

The post XRP Just Entered the Danger Zone — Here’s What Traders Are Watching Closely (XRP Price Prediction) appeared first on Cryptonews.

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