Top 3 reasons why Ripple will increase by 50%

The XRP price has moved in a close range in the past few weeks. Despite some important progress in his network, including the introduction of an EVM-SITECHAIN and the growth of Ripple USD, his volatility has subsided. In this article, some of the most important reasons for the upcoming price increase of Ripple are explained.

The XRP price has bullish technical data

The first main reason why the XRP course will increase by 50 % to the highest level this year is the extremely bullish technical data.

The daily diagram shows that the coin has formed a symmetrical triangular pattern, with the upper side connected the highest rashes since January 28 and the lower side since April 7.

The range of the three Bollinger ligaments lines has decreased significantly in the past few days. In most cases, this consolidation follows a Bollinger band squeeze. Like us have written here, If the chances of an upheaval have increased because this triangle is part of a bullish pennant pattern.

An interest bully outbreak will drive the coin to the previous annual high of $ 3.4, which is about 50 % above the current level.

XRP Kurchart ~ Source: Tradingview

Nasdaq 100 and S&P 500 have risen at all -time highs

The other reason why the XRP course will increase soon is that there is a sign that there is a risk-friendly mood on the market.

A good example of this is the fact that the fear and greed index has risen to the greed range of 65. In addition, the US dollar index (DXY) fell to a multi-year low, while the Nasdaq 100 and the S&P 500 have reached their record highs.

Therefore, there is the possibility that the cryptoma market will increase next if the risk of risk predominates. Indeed, the Bitcoin course Numerous bullish patterns such as the bullish flag and a cup-and-handle already formed that indicate a possible increase.

Ripple ETF approval and RLUSD growth

The XRP course could continue to increase by the SEC before approval of the XRP ETF. About 10 XRP spot funds were submitted by companies such as Vaneck, Bitwise and Franklin Templeton.

The likelihood that these funds will be approved has risen to over 80 %, which is a sign that investors assume that this will happen by October. This approval will give XRP fresh capital and drive up its course.

At the same time, the StableCoin Ripple USD continues to grow and quickly approaches the $ 500 million mark of assets. If this trend continues, it is likely that it will reach the $ 1 billion mark this year. The strong growth of the RLUSD stable will inspire the mood of the XRP course.

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