Can XRP Price Hit $3 This Weekend?

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As Bitcoin holds steady near $100,000, altcoins are seeing a resurgence. XRP has surpassed a significant barrier, suggesting that it could be on the verge of an impressive upward trajectory. Given Ripple‘s strong performance over the past day, making it the top gainer, some investors speculate whether this momentum is sufficient to propel the XRP price to reach $3 by the weekend. Will Ripple be able to execute such a move? Or will selling activity lead to a reversal instead?

Can Weekend Rally Propel XRP Price to $3?

It’s not unrealistic or unlikely for the price of XRP to reach $3 this weekend. The surge in bullish sentiment that has made it one of today’s top performers might be enough to drive its value up to that level. Given that this target is only a 20% increase from its current price, it seems plausible that the price of XRP could reach $3 this weekend.

Except for the heightened speed, weekends usually see reduced trading activity and liquidity, which can make conditions ripe for manipulation, resulting in large price fluctuations up or down. As I previously mentioned, XRP could potentially reach $3 with just a 20% increase, a move that’s not unusual in the unpredictable cryptocurrency market. This possibility could come to pass if Bitcoin continues its upward trend above $100,000.

Technical indicators lend credence to this optimistic perspective. As market sentiments brighten and cryptocurrencies gain ground, XRP seems primed for a robust surge upward. Should the momentum persist, the $3 milestone could be within reach, signifying a substantial achievement for Ripple’s native token.

XRP Technical Analysis: Ripple’s $3 Weekend Target

The price of XRP has managed to break through its declining trendline, suggesting a shift from the earlier bearish pattern. This breakout marks the initial sign of growing bullish momentum and potentially sets the stage for further price increases. As I write this, the XRP value is being traded at $2.48, having risen by 7% in the last 24 hours, although it remains slightly below the $3 threshold.

The Relative Strength Index (RSI) is currently at 63, indicating a bullish trend nearing the overbought region. The Awesome Oscillator (AO) indicators are currently at a positive trend and must hold above their midpoint levels. A decline below these midlines indicates weakening momentum and a rise in bearish pressure, potentially derailing the current outlook.

Should XRP continue to meet these prerequisites, there’s potential for a notable 20% increase that could bring the price closer to approximately $3. Over the coming trading periods, we’ll find out if buyers are able to sustain their momentum and drive XRP towards this ambitious goal.

To keep the upward trend going, it’s essential that the leading altcoin holds its crucial support at around $2.23. Dropping below this point may diminish buying strength and raise questions about a prolonged uptrend. If this level breaks, there’s a potential for XRP to experience a sharp decline of roughly 15%, bringing it down to the $1.95 area.

The possibility that XRP’s price might reach $3 this week hinges on continuing bullish trends and favorable market circumstances. Maintaining the crucial support level at $2.23 is vital, while a positive overall sentiment towards cryptocurrencies could propel the growth even more.

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2024-12-14 11:36