After being launched in Japan, XRP has once again attracted considerable attention. The token is now waiting to gain bullish momentum, with its price now projecting a stable price threshold. The token is up 2%, trading at $0.51 over the past 24 hours, and is predicted to surpass $0.75 this month.
Cryptocurrency analysts on X (formerly Twitter) have been forecasting positive price predictions for XRP for a long time. Despite the token’s price trajectory, analysts are hopeful that XRP will soon adapt to the growing market frenzy and may soon enter an uptrend.
XRP: a massive breakthrough expected this week?
According to Documenting Ripple, XRP is currently forming a notable uptrend pattern in its chart, indicating that a notable price rise could be on the cards for Ripple soon. Historical data for XRP suggests that the bottom formation currently visible on the XRP chart has generally coincided with a notable breakout later.
The following prediction amplified the hopes of crypto enthusiasts who have long been hoping for XRP to enter an uptrend.
Aside from the formation of candlestick charts, Ripple’s brilliant league of alliances is proof enough of XRP’s enduring legacy. The organization is sparing no effort to diversify XRP’s use cases and eventually help the token create its own undisputed user base.
Also Read: XRP’s Prophetic Rise Soon Expected: Will Ripple Hit $1 by the End of May?
XRP price forecast for the weekend
According to CoinCodex, XRP could see a 20% rise in price this week and could trade at $0.61 by May 4-5, 2024.
However, by May 9, the token could undergo the usual market correction to fall back and trade at $0.59.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends of the last 30 days. Based on these XRP projections, XRP will change hands at $0.592749 on May 9, 2024, gaining 15.86%.
XRP Forecast for May
May seems to be a promising month for XRP, as the token could show signs of stability and a gradual rise towards new price thresholds. Per CC, XRP could rise by 20% to climb and trade at $0.61 on average by the end of the month.
“According to our current XRP price forecast, the fear and greed index displays 43 (fear). XRP recorded 13/30 (43%) green days with a price volatility of 7.91% over the last 30 days.
According to Coinpedia, XRP’s formidable league of alliances and partnerships is a trigger capable of catapulting its price to $1 by the end of this month.
Also Read: Settlement Issues Weigh on XRP: Will Ripple Hit $1 Sooner Than Later?
“With increasing sideways volatility in the XRP price chart, sellers are dominating the short-term trend. However, a trend reversal in the event of a market recovery could form a triangle breakout for Ripple. In such a case, the price of XRP may reach $1 this month.
reference: watcher.guru