How High Can XRP Go This Weekend?

Recent data shows XRP experiencing major price swings, leaving investors and analysts speculating on its potential trajectory for the coming days.

According to Changelly, XRP is predicted to surge by a substantial 32.26% surge on October 12, 2024, pushing its price to $0.700707. The bullish momentum is expected to continue into October 13, with the token expected to climb further to $0.711876, marking a 34.36% increase.

However, XRP price is expecting a sharp correction on October 14, dropping to $0.617867, though still maintaining a 16.62% gain.

Weekend XRP outlook: Bulls vs. Bears

Despite the recent volatility, XRP is currently trading at $0.52, showing a drop in price over the last 24 hours. With a market cap of $29.7 billion and a trading volume of $1.36 billion, XRP maintains its position as the 7th largest crypto.

The weekend ahead presents a mixed bag of signals for XRP. Coincodex reports that the current price prediction sentiment for XRP is bearish, with the Fear & Greed Index sitting at 39, indicating “Fear” in the market.

XRP is trading significantly below its all-time high of $3.92, reached on January 4, 2018. However, it’s well above its cycle low of $0.113268, suggesting potential for upward movement.

With a circulating supply of 56.56 billion XRP out of a maximum 100 billion, and a yearly inflation rate of 5.95%, the token’s scarcity factor could play a role in price movements.

As traders and investors gear up for the weekend, the key question remains: Can XRP recapture the momentum seen earlier this week, or will bearish sentiment prevail?

Technical analysts are closely watching key resistance levels, with many pointing to the $0.70 mark as a crucial threshold. A sustained break above this level could reignite bullish sentiment and potentially push XRP towards the $0.80-$0.90 range.