Crypto analyst JD (NASDAQ:) has offered a positive long-term outlook for XRP, predicting that the cryptocurrency’s price could surpass the $7 mark. This projection is based on a “Hidden Bullish Divergence” spotted in XRP’s weekly Relative Strength Index (RSI) chart, implying a potential upward trend.
The weekly Stock RSI, currently standing at 7.66 makes it an attractive entry point for investors, according to JD. Despite a recent 1.9% depreciation in value and a 1.79% decline in market capitalization, XRP demonstrated resilience with its daily trading volume of $792 million.
JD pointed to high whale activity and progress in ‘s legal battle with the Securities and Exchange Commission (SEC) as factors strengthening XRP’s position. These elements, combined with XRP’s unique market stance, are seen as contributing to its solid long-term prospects.
The analyst emphasized that these positive aspects offer an enticing long-term investment opportunity for those interested in the digital currency market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.