There have been significant movements in the value of Ripple’s XRP token over the past few months. Even though the coin’s price has dropped 8% in the last 60 days, there are more discussions about it than at any time since early April.
This makes people wonder if the current online chatter will cause the price of XRP to go through the roof or if it’s just short-lived talk.A rise in XRP’s social dominance, which means more talks about it than about any other cryptocurrency, shows that people are talking a lot about it on social media.
Historically, these kinds of jumps in social media activity have come before price increases. For example, XRP went up to $0.66 in December 2023 and $0.71 in March 2024. Fans are hoping that this trend will happen again, which could bring the price back to $0.70.
XRP, Experts Skeptical, Technicals Mixed
But some experts aren’t sure about this social media craze. Even though there is a lot of talk, mood analysis shows that the market isn’t very excited. Santiment’s Weighted mood metric shows that people have a slightly negative view overall. This bad feeling could slow down any price increases that might be caused by social media hype.
A look at XRP’s technical aspects shows a mixed picture. Recently, a “golden cross” happened, where the 20-day exponential moving average (EMA) went above the 50-day EMA. This is usually a sign that prices may go up. If XRP can get past the level of support at $0.56, it could go up to $0.70.
But the Moving Average Convergence Divergence (MACD) sign is currently showing a downward trend, which means it’s not clear that the bulls are in charge. Because of this lack of technical confidence, Ripple could fall to the $0.50 support level before it can rise again.
Uncertainty surrounds the future of XRP. Talk on social media suggests that the price could go up, but negative sentiment and unclear technical indicators cast questions. As an investor, you should be ready for price changes. The price could go up to $0.70, but it could also go down to $0.50 or even less.
