The entire crypto market witnessed much volatility over the last week, and XRP was one of them as its value dipped.
After a tough week, XRP’s price turned slightly bullish, which might allow it to reclaim $0.5 or $0.6 soon.However, the last 24 hours were in investors’ interest as the token’s chart finally turned green. Let’s have a closer look at the token’s state to predict XRP’s price action.revealed that XRP’s price dropped by more than 9% in the last seven days. However, the bears lost their hold in the market as the token’s price moved up marginally in the last 24 hours.
AMBCrypto’s analysis of Santiment’s data revealed that while the token’s price remained low, investors chose to accumulate more tokens. This was evident from the drop in its supply on exchanges.Additionally, whale activity around the token also remained high throughout the last week, as its number of whale transactions increased. While the token’s price gained a slight bullish momentum, its trading volume also increased, acting as a foundation for a future rally.
However, XRP’s NVT ratio registered an uptick after a drop. Generally, a rise in the metric means that an asset is overvalued, which hints at a price correction.AMBCrypto then analyzed XRP’s daily chart to see whether a price uptick was possible. We found that the token’s price had touched the lower limit of the Bollinger Bands, which often results in price upticks.
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