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XRP Could Rise to $3.2 After Bullish Breakout
Looking at the daily chart, XRP remains above its 200-day exponential moving average (EMA), meaning that its uptrend is intact despite the latest weakness that the crypto market has experienced.
The price recently broke above the 21-day EMA as well with strong volumes, indicating that the token’s short-term outlook has now turned bullish.
xrp daily price chart
Based on the size of the price channel that XRP recently broke, this bullish breakout gives us a short-term target of $3.2 for the token, resulting in a 45.5% upside potential based on today’s prices.
Market sentiment has improved significantly in the past couple of weeks as the Fear and Greed Index moved from a record low of 15 (Extreme Fear) to 52 (Neutral outlook). Moving forward, the 21-day and 200-day EMA are the key support levels to watch in the following weeks.
Although it may take a while for XRP to 10X, the approval of an ETF will likely propel the price to a fresh all-time high, meaning that XRP could at least 2X from its current levels once these investment vehicles are approved.
For those looking for more immediate upside, early-stage presales like MIND of Pepe (MIND) are gaining traction, with its AI agent token still available at a discounted presale price.$ETH
