Like many other major cryptocurrencies in the market, Ripple (XRP) is recovering. The token has in fact started to consolidate around a crucial support zone, making it a potential pick for an upward rally in the near term. But how will this happen? Some analysis here below but first, a few highlights:
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XRP has found sufficient support around $0.6 and in fact, it has been consolidating around this threshold.
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If these gains hold further, XRP could surge 20% and hit the $0.757 mark in the coming days.
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At the time of writing, the token was trading at $0.61, up around 4% in 24-hour intraday trading.
Data Source: Tradingview.com
Ripple (XRP) – price prediction and action
For the last ten days or so, we have seen XRP test the $0.6 barrier. In fact, it would appear that the token is consolidating around this price with volatility almost gone. Unlike other crypto assets, XRP has been hovering around gains and losses of between 2 and 4%.
This could suggest that it is finding a lot of strong support at $0.6. If indeed Ripple is able to keep gains above that threshold, then it is possible it could surge by nearly 20% in the coming days. This will take the coin to a price tag of $0.75, closer to its 50-day SMA of $0.77.
Why you should buy Ripple (XRP)
Forget about the recent crash in crypto. There is no doubt that the market will recover, and besides, most experts agree that a correction was probably due. Ripple (XRP) is one of the leading crypto assets in the world.
If you are looking for the perfect coin to ride the crypto recovery in 2022, then it is a great choice. Besides, the coin was one of the best performers in terms of ROI last year.