While the growth seemed decent, XRP price appeared to be slow
Throughout this month, XRP price has been trading above $1 and at one point reached $1.17 after gaining nearly 13% on the week. Now, while the growth of Ripple’s native token looks good, the long-term price trajectory of this altcoin seems to be slowing down. However, at the time of writing, there are signs of some historic move in the formation, which could rock its price.
XRP price will hit the next high profit?
With the debacle between Ripple and the SEC going on for almost a year, XRP price has struggled to keep up. The market’s sixth-largest altcoin has failed to close its fair value gap, let alone come close to its ATH at $3.31 in January 2018. As for XRP, the real question. It remains to be seen whether it can rise above $1.5 anytime soon.
Luckily for XRP holders, on the price front, XRP had a fair chance of hitting $1.50 in Q4 after painting a bullish crossover between its 20-day and 50-day EMA.
XRP/USDT | Source: TradingView
According to AMBCrypto, the last time a similar golden cross occurred was on August 10, the price of XRP increased by almost 80%. Another instance when the same thing happened was in February of this year when alt recorded a gain of almost 200%. A similar rally is also possible at this point, taking the altcoin above $1.5 provided that XRP’s indicators hold.
At the moment, the Bitcoin price is up near $58,000 at one point, but the altcoin market looks dull. Most of the top coins are consolidating and it is worth noting that XRP is garnering a higher ROI than Cardano (ADA) and Solana (SOL) in a shorter timeframe. Furthermore, XRP’s yearly standard deviation of daily return (volatility) over a period is better held.
Also, in the end, the altcoin was a lot less risky because its Sharpe ratio was better organized than most of the top alts. Notably, Cardano and Solana both have negative values on their Sharpe ratio, while XRP’s Sharpe ratio has a big increase on October 7, 2021.
In addition, the Daily Active Addresses finally broke out after being in an uptrend since bottoming in late July. Furthermore, XRP whales also appear to be accumulating, with a percentage of the total stablecoin supply held by whales at over $5 million, close to its ATH post-May. This accumulation could act as a good stepping stone for XRP price in case of a drop.
Overall, the indicators for XRP are still faltering and the network growth rate is higher with XRP announcing the Proof of Payments (xPoP) protocol in the near future, as AZCoin News reported.
All of this could support network growth and subsequently price appreciation for XRP. However, with the price of XRP down 5% in the past 12 hours, the indicators are needed to keep the altcoin recovering.
- XRP Price Is Expected Towards $1.5 In The Fourth Quarter Of 2021
- XRP Price Demonstrated An Over 13% Rise As Its Price Has Surged To $1.22