XRP $XRP also has the prospect of ETF approvals to look forward to later this year.
The XRP price has surged by 5.5% in the past 24 hours, with the alt reaching $2.58 as Bitcoin’s new record highs boost the crypto market today.
XRP is now up by an impressive 16% in a week and by 23% in the past fortnight, while its return over the last 12 months has now risen to 480%.
These are very bullish percentages, and they come as XRP wallets top 7 million, with XRP Ledger having added 840,000 new addresses in the past six months alone.
It’s currently adding somewhere in the region of 7,000 new wallets daily, and given its fundamentals and the direction of the wider market, the medium- and long-term XRP price prediction looks very promising.
XRP Price Prediction: 7,000 New Wallets Added Daily as Adoption Explodes – Could XRP Hit $100 Sooner Than Expected?
XRP is therefore witnessing a surge in demand and adoption, and if crypto has entered another bull market, then its on-chain metrics are only going to improve over the coming weeks and months.
Not only has the XRP price surged in the past day, but there have been several big XRP transfers this week, including one yesterday worth over $100 million.
Larger traders and institutions are clearly buying into XRP in a big way, as we can also see from recent CoinShares Digital Asset Fund Flows reports.
And if we look at its chart today, we see that it has decisively begun a breakout, with its indicators all flashing ‘buy.’
Not only has its RSI (yellow) risen above 70, but its moving average convergence divergence (orange, blue) has just turned positive.
What’s particularly bullish about this is that the MACD is still some way from hitting the overbought levels it witnessed in late November and January.
As such, there’s plenty of time left before the current rally runs out of steam, with the XRP price potentially rising more or less consistently for the next few weeks.
The longer-term picture is even more positive, given that we’re waiting on the approval of numerous XRP ETFs, which could send the altcoin flying.
Based on this, the XRP price could hit $3 by the end of July, and potentially end the year at $10, if not higher.
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