As the majority of the cryptocurrency industry is starting to recover the losses it suffered during the recent dip, XRP is no exception, recording modest improvements in the last 24 hours, and one cryptocurrency expert believes more significant gains could be in store.
Specifically, the XRP token might be gearing up for a run toward $1, which could send it further upward if it actually manages to surpass this price level, according to the observations shared by the pseudonymous crypto market analyst CoinsKid in two X posts on September 13.
Furthermore, the expert also explained that XRP taking out the red line above, which is currently acting as resistance, could increase its “chances of taking out the April 2021 high” of $1.8377, or at least leading to a price tag of $1.618 to $1.629, which is why he recommended his followers to “keep an eye on the close this month.”
XRP price analysis
As things stand, XRP is presently trading at the price of $0.4795, indicating an increase of 1.13% on the day as it moves to reverse the loss of 4.33% across the previous week and a more significant decline of 23.69% over the past month, as the charts demonstrate.
Meanwhile, popular crypto trader Benjamin Cowen noted that XRP had retraced all of its gains following the legal triumph of blockchain company Ripple over the United States Securities and Exchange Commission (SEC), proving that “narratives do not drive the market, liquidity does.”
On the other hand, XRP is one of the top five cryptocurrency projects in terms of their project-quality score calculated from different automatically collected metrics by the GitHub platform and various package managers, following Bitcoin (BTC), Cosmos (ATOM), Stellar (XLM), and Algorand (ALGO), as Finbold reported on September 12.
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