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The XRP price is down 4% in the last 24 hours but remains 25% up on the month to sell for $0.613 as of 8:20 AM EST.

Trading volume for the payments token is up 3%, which points to growing attention after a trader expressed optimism for Ripple’s price.

Crypto Tony predicted that XRP price holding above $0.6100 would be a good sign for Ripple’s upside potential.

Meanwhile, another analyst, Tony “The Bull,” has observed how the Bollinger Band Width indicator hints at an impending bullish move for XRP price.

Holding that the “bullishness around XRP price has still not waned,” The Bull acknowledges that the altcoin has managed to maintain critical support levels, which is a good sign. He alludes that optimism for the XRP price to register a do-over remains bolstered by several insights from analysts to support the bullish thesis.

Key Metrics Supporting The Bullish Outlook For XRP Price

Tony The Bull explains why XRP price remains bullish, citing three qualifications bordering along the Bollinger Bands indicator.

He observes that the Bollinger bands, which measure price volatility, have reached the second-tightest level ever for XRP price. Also, the %B of the same indicator has moved above the 0.5 level, pointing to a potential breakout.

The third reason why XRP remains bullish, according to Tony The Bull, is that the XRP price has broken above the upper Bollinger Band. This is often interpreted as a buy signal.

XRP Price Prognosis As Ripple Price Coils Up For A Move North

XRP price is coiling up for a move north after filling a symmetric triangle and breaking below its lower boundary. After a prolonged downtrend of the Relative Strength Index (RSI), which pointed to falling momentum, it is now deviating from the south. This shows bullish resolve that could bode well for Ripple’s price if sustained.

The Awesome Oscillator (AO) is also holding above the positive territory, suggesting the bulls maintain a presence.

Increased buying pressure could see XRP price reclaim above the lower boundary of the triangle above $0.6599. In a highly bullish case, drawn to the fair value gap (FVG), Ripple price could fill the inefficiency extending from the $0.7000 psychological level to just below the $0.8000 psychological level.

In highly ambitious cases, the XRP price could stretch farther to test the range high at $0.9380, collecting sell-side liquidity that resides above. Traders looking to open new long positions should wait for the price to restore above the lower trendline at $0.7000.

Those looking to ride the prospective rally to the $0.9000 psychological level should wait for the price to move above the midline of the FVG decisively, termed consequential encroachment, at $0.7568.

Ripple priceRipple price
TradingView: XRP/USDT 1-day chart

 

At the same time, attention has shifted to Bitcoin Minetrix, a cloud-mining project that allows everyone to own BTC. The project has breached the $4 million mark in sales, with prospects for more gains ahead of spot ETF approval.

Promising Alternative To XRP

Bitcoin Minetrix presents the perfect alternative to XRP, the BTCMTX token, selling for $0.0117 in the current presale stage. It is among the top three ICOs to buy and one of the best five tokens of 2023.

Based on the latest website data, presale sales now record $4.1 million out of the target objective of $4.914 million.

When you buy BTCMTX tokens, you become part and parcel of the Bitcoin Minetrix community, an enlightened group that maintains a presence on Telegram’s messaging platform. Here, you will get timely updates about the project so you can stay in the loop.

Visit the Bitcoin Minetrix website to buy BTCMTX in the presale here.

Also Read:

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin MinetrixBitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 100% APY

Bitcoin MinetrixBitcoin Minetrix


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