In the last 24 hours, the XRP price has significantly risen by 7%. This growth is accompanied by an increase in open interest, indicating new capital entering the market.
XRP Price Analysis
The XRP price reached $1.16 despite a 56% drop in trading volume. This accompanies an increase in open interest and a trader bias towards shorts. However, the current rise in both price and open interest indicates a potential bullish trend. Technical indicators support this scenario: the price is above the 50-day and 200-day moving averages, the MACD line is above the signal line, and the RSI shows overbought conditions at 86.
XRP Price Prediction
If the price remains above $1.00 with high volumes, it could test higher resistance levels at $1.20 and beyond. However, due to overbought conditions, a short-term pullback to $1.00 or $0.80 is possible. Nonetheless, the XRP price, now exceeding key indicators, continues to remain in a bullish trend.
Pepe Unchained Presale
The Pepe Unchained project continues to garner attention, having raised over $35.9 million in presale. The token plans to operate on its proprietary Ethereum Layer 2 blockchain, promising improved performance and lower transaction costs. Large exchanges are showing interest in $PEPU, which could significantly enhance its liquidity and visibility following potential listings.
The rise in XRP prices and activity in other digital assets, such as Pepe Unchained, indicate a continuing interest in the crypto market among investors. Technical indicators currently support the bullish trend of XRP.
