Bittime - The price of Ripple (XRP) has been stable recently after experiencing a rapid increase over the past week.
The XRP token rose 11% in a week and jumped 30% in the past month. Based on recent gains, analysts estimate that XRP could reach a price of IDR 15,000 (around $1) in April.
Even though the overall crypto asset rally is cooling, many price predictions predict a rebound for altcoins (crypto assets other than Bitcoin) in April, including XRP.
Currently, XRP is trading at IDR 10,594 (approximately $0.6765). However, analyst estimates see the price of XRP recovering past IDR 11,000 (more than $0.7) to close to IDR 15,000 (around $1).
The latest price chart shows XRP managed to break the IDR 10,594 (around $0.67) barrier. If XRP can pass this resistance limit (an upper price limit that is difficult to penetrate), it is difficult to predict how high the price of XRP can rise.
XRP's recent rise came too late for some investors, as other altcoin markets have already rallied over the past two months. However, XRP is starting to catch up, with interest in this asset increasing rapidly recently.
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Even though the price fell slightly today, the overall price of XRP is still up 11% in the past week. As a result, XRP trading volume has also increased.
Analysts expect an XRP price target near IDR 20,000 (around $1.33) as intermediate resistance, with Fibonacci targets at IDR 29,000 (around $1.88) and IDR 90,000 (around $5.85) in the coming weeks.
However, XRP must first exceed IDR 12,000 (around $0.7707) as the initial target to reach the price of IDR 15,000 (around $1).
Additionally, XRP holders hope that Ripple Labs' trial with the SEC will be resolved soon. A ruling in favor of April will be a big month for altcoins, especially XRP.
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XRP Performance in the Last Week
Source: Bittime
XRP price showed positive performance in the last week. Data from Bittime shows that XRP has experienced a price increase of 11.84% in the last 7 days. On March 7, 2024, the price of XRP was at IDR 8,643. Then, on March 14 2024, the price of XRP rose to IDR 10,594.
This increase in XRP prices was accompanied by an increase in trading volume. XRP trading volume in the last 24 hours reached IDR 37.24 trillion.
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Factors Driving XRP Price Increase
There are several factors that have pushed the price of XRP up in the past week, including:
Positive market sentiment towards crypto assets
The crypto asset market as a whole has experienced an increase in the last week. This drives up the price of XRP.
Ripple's announcement about using XRP for cross-border payments
Ripple announced that it will collaborate with global payment companies to use XRP in cross-border payments. This increases investor confidence in XRP.
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XRP price showed positive performance in the last week. The increase in XRP prices was driven by several factors, such as positive market sentiment towards crypto assets and Ripple's announcement about using XRP for cross-border payments.
Analysts predict that the price of XRP will continue to rise in the coming months. However, investors need to do their own analysis before deciding to buy or sell XRP.
How to Buy Ripple (XRP) on Bittime
You can buy and sell Ripple (XRP) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ripple (XRP) is available on Bittime with the market pair XRP/IDR . To be able to buy XRP IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ripple (XRP) on Bittime .
Monitor price chart movements for Ripple (XRP), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
XRP Breakout: Latest XRP (XRP) Price Analysis and Predictions
XRP (XRP): Price Analysis and Prediction in 2024
XRP Whales Move Tens of Millions of XRP As Price Approaches $0.6
Ripple (XRP) Prediction: Will it Rise or Fall
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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