Ripple’s native cryptocurrency, XRP, has surged nearly 38% in a month, generating stellar profits for investors who took an entry position in July. The bullish trend came to an abrupt halt when the stock markets crashed early in this week. Since then XRP is trading in a sideways fashion but has managed to increase by close to 5% during this past week.
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On Friday, the leading altcoin was trading at $0.60. The bulls expect it to reach the $1 level. This article will explain how to use this. article, we will highlight whether Ripple’s XRP can breach the $1 milestone by the end of the month.
How soon will XRP reach $1?
In order for XRP (the altcoin) to reach $1, it needs to rocket 66%. next Three weeks. An investment of $1000 could become $1660 in this month if this scenario is played out.
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So, will Ripple’s native token rise 66% and reach $1 in August? Well, XRP turned bullish just days before the recent stock market crash and is now moving at a snail’s pace in the indices. The market is not conducive to a large jump at this time due macroeconomic pressures.
It is important to note that the word “you” means “you”. The Daily Simple Moving average (SMA), and the Weekl EMA (Exponential Moving Average) technical analysis shows a ‘buy’ tag. However, the maximum boost the technical pointers give Ripple’s native token is a surge in value of about 10% this month. The XRP token could therefore trade at around $0.66 by August 2024.
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That’s a far cry from climbing above the $1 threshold. Investors must wait extended periods to see XRP trading without a ‘zero’ in the indices. XRP may still surge in value if Ripple vs. SEC is a win for the blockchain foundation.
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Source: watcher.guru