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XRP Price Prediction as Consolidation as $0.70 Zone Continues – When is the Next Leg Up?

Simon Chandler
Last updated: | 3 min read
Source: TradingView

The XRP price has dipped by 1% in the past 24 hours, with its slide to $0.703057 coming as the cryptocurrency market as a whole barely moves today.

XRP is now down by 2% in the past week, but it remains up by 50% in the last 30 days and by just over 100% since the beginning of 2023, with the coin rising strongly this year on the back of positive expectations surrounding the Ripple-SEC (which were then confirmed earlier this month). 

And while it has suffered losses in the past couple of weeks, it’s reassuring to note that it has consolidated solidly around the $0.70 level, providing it with a strong base from which to launch further rallies once the market becomes more bullish.

XRP Price Prediction as Consolidation as $0.70 Zone Continues – When is the Next Leg Up?

While XRP’s chart doesn’t bring much in the way of joy at this precise moment in time, its indicators provide the impression that it will have to return to growth sooner or later.

Source: TradingView

For one, its relative strength index (purple) has been low for around a week now, remaining below 50 (or lower) in a sign that it’s being sold a little too much at the moment.

XRP’s 30-day moving average (yellow) has also been subdued over the past week, having fallen from earlier highs and sticking to a flatlined position ever since.

This implies that it could be due to rise again, an expectation supported by the coin’s support level (green), which has not only stuck to $0.70 but has also risen a little in the past few days.

As such, it’s easy to remain positive with regards to XRP, which remains in a fundamentally strong position, especially with Ripple now being given enough legal protection to continue expanding its business a little more aggressively.

Indeed, we have seen some early glimmers of such an expansion in the past week or so, with Ripple recently signing a partnership with the Republic of Palau to test a stablecoin running on XRPLedger.

This points to the kind of work Ripple is likely to do in the near and more distant future, with the company in a great position to be one of the go-to chains for any large company or public institution that wants to trial or launch some kind of blockchain network.

With this in mind, it’s likely that XRP will continue seeing steady price rises over the medium- and long-term, with the altcoin set to reach $0.80 in the next few weeks.

And if Ripple continues expanding its business, XRP could easily reach $1 in the next few months.

New Altcoins With High-Return Potential

XRP continues to be in a strong position to see further gains, yet it’s not the only altcoin in the market at the moment that has the potential to rally significantly in the near future.

There are also a number of promising new tokens holding their presales at the moment, with such coins looking to surge once they list on exchanges.

One excellent example of such a token is Launchpad.xyz (LPX), a one-stop-shop Web3 platform that launched the sale for its LPX token last month.

This sale has already raised more than $1.2 million, providing an indication of how investors are becoming increasingly excited about the Ethereum-based platform.

What’s interesting about Launchpad.xyz is that its platform will integrate various Web3 applications, tools and services, providing users with a more friction-free entry into the growing Web3 sector.

For example, Launchpad will offer a Web3 wallet address, yet it will comebine this with a play-to-earn game hub, a launchpad for presales, a trading terminal, and an AI-powered search engine specifically for crypto.

Launchpad’s roadmap is even more ambitious than that, however, since it will aslso launch its own decentralized exchange by the end of 2023, while 2024 will bring an NFT exchange and the ability to create fractionalized assets.

Together with its Web3 wallet, news feeds and gaming hub, such features suggest that Launchpad.xyz could capitalize massively on the growth of Web3, with its LPX token growing in parallel.

Visit Launchpad XYZ Now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.