Despite the overall stagnation in the cryptocurrency market, Ripple's XRP shows positive signals that may pave the way for a new rise, supported by several factors:
🔹 Ripple among the strongest private companies globally:
According to CB Insights data, Ripple is ranked 23rd among the highest valued private companies globally.
The company's valuation is estimated at $15 billion, with major companies like SpaceX (valued at $350 billion) also appearing on the list.
🔹 Major investors in Ripple:
Notable investors include:
IDG Capital, Venture51, and Lightspeed Venture Partners
Ripple entered the "Unicorn" list since December 2019.
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📈 What are the price predictions for XRP?
🔸 On the daily chart (XRP/USDT):
The price recently rebounded from a strong support area at $2.7346, which may provide a buying opportunity for late investors.
If resistance at $3.1454 is breached, we may see a rise towards the supply area between $3.4823 and $3.6570.
Breaking this area may pave the way towards the all-time high (ATH) of $3.6607.
📌 Those looking to enter long-term positions are advised to wait for a daily candle close above $3.5527 to confirm the continuation of the uptrend.
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🚨 But there are risks as well:
If the price fails to maintain the support level of $2.7346, it may drop to the fair value gap (FVG) area between $2.5678 and $2.6629.
A break below the level of $2.6168 may indicate further decline.
The MVRV indicator gave a bearish crossover signal (death cross), which may indicate additional correction.
However, positive trading volume remains strong at lower levels, which may help the price rebound again.
📍Potential immediate trade on XRP/USDT
✅ Entry area (Buy):
Between 2.74 – 2.76 USDT
🎯 Take Profit:
First target: 2.93 USDT
Second target: 3.14 USDT
Third target: 3.48 USDT (if momentum continues)
🛑 Stop Loss:
2.66 USDT