The XRP cryptocurrency exchange rate has increased by more than 9% over the past week. Let's consider the forecasts of its further movement in the month of May.
Overview of Current XRP Growth
Currently, XRP is trading around $2.30. The cryptocurrency has shown consistent growth over the past week, attracting the attention of analysts and investors.
XRP Price Predictions
Analyst under the nickname Ameba anticipates that XRP may reach $2.90, representing a potential increase of around 26%.
Another trader, Joe Swanson, bases his analysis on an 'inverse Head and Shoulders' pattern, which supports the potential for growth up to $3.
Crypto Virtuos mentions a target of $2.50, indicating potential growth of 10%.
Reasons for Recent Price Surge
The recent increase in XRP's price is attributed to news that ProShares received SEC approval to launch three separate XRP ETFs. This favorable news from financial regulators has served as a signal for investors.
Current predictions for XRP appear moderately optimistic, but resistance at the $3 level may influence future developments.
