April went turbulent for XRP. The race dropped back to $ 1.65, but then showed an impressive recovery. In the meantime, the currency is noted around $ 2.20, with which the loss of last month has been completely eliminated. What can investors expect in May?
Various strong signals indicate a possible further increase. In this article we discuss four signals that indicate a possible bullish follow -up.
1. Technical analysis: Bullish pattern pops up
A highly positive pattern is visible on the price graph of XRP: the so -called ‘Inverse Head and Shoulders’. According to crypto analyst Ali Martinez, who shared this pattern on X, this may indicate an approaching outbreak. He expects that the price can rise to between $ 2.70 and $ 2.90 in the coming weeks – an increase of a maximum of 32%.
2. Hope for XRP ETF remains sec
The hope for an XRP spot ETF is still alive, although the enthusiasm has been tempered since the American stock market watchdog SEC has requested a postponement for a definitive decision. Nevertheless, the speculation flared up again after a meeting on 2 May between Ripple-Medes founder Chris Larsen and former SEC chairman Paul Atkins.
If an ETF is finally approved, that could be an important breakthrough. Earlier, the approved Bitcoin ETFs already caused a significant influx of institutional capital – something that could also be the case for XRP.
3. Will Ripple Circle take over?
Great rumors are also circulating on fundamentally. According to sources, Ripple would consider to take over Stablecoin publisher Circle-known from the USDC token-for an amount of no less than $ 20 billion. Such a takeover would not only give Ripple a stronger position in the market for digital payments, but can also accelerate the adoption of the XRP Ledger, for example through the integration of USDC within its own ecosystem.
4. Strong purchasing pressure according to indicators
Technical indicators on TradingView show that the market is currently particularly positive about XRP. Almost all advancing averages-from 10 to 200 days, both simple and exponentially-give a ‘strong buy’ signal. This indicates continuing purchasing pressure and optimism among traders, both in the short and long term.
Source: https://newsbit.nl/4-veelbelovende-signalen-dat-de-xrp-koers-in-mei-gaat-exploderen/
