Active addresses on the XRP Ledger have risen by 19% in the past couple of days, suggesting a positive turn for the XRP price prediction as trading activity heats up.
At $3.02, XRP has gained by 1% in a day and by 4% in a week, although it remains down by 6% in the last 14 days.
However, signals indicate that its recent run of bad luck may be about to come to an end, with the spike in on-chain activity coinciding with a bottom for technical indicators.
We could therefore see the XRP price surge in the coming weeks, while increasingly bullish macro signals could send it towards $10 in the medium- and long-term.
XRP Price Prediction: Sideways Action Ends Soon? On-Chain Spike Hints at $10 XRP Incoming
According to data from Santiment, daily active XRP Ledger addresses rose from a two-month low of 36,700 on Sunday to 44,100 on Tuesday.
What this reveals is that, after a period of declines, demand is starting to return to XRP, which could therefore be in for a breakout very soon.
Data from Whale Alert has also shown that one large holder has moved 30.5 million XRP to Coinbase, as a prelude to a sale.
Of course, this doesn’t tell us when exactly the whale will sell up, with the possibility remaining that they may wait for a big spike before taking profits.
And according to XRP’s chart, it does seem that the altcoin may be on the brink of a big move.
It has been trading within a bullish pennant since the middle of July, and it now looks ready to break out of this range.
We see something similar from its MACD (orange, blue), which after turning negative earlier this week has bottomed out, ready to rise back up.
Source: TradingViewIt’s also worth noting that XRP’s trading volume has more than doubled since the weekend, rising from about $2.9 billion to $6.6 billion today.
The pieces are therefore falling into place, and one catalyst that could trigger a big move is September’s FOMC meeting, which could see the Fed finally cut interest rates.
This would be a big boost for the market and for the XRP price, which could potentially end September near to $4.
And if the final quarter of the year brings the approval of XRP ETFs, the altcoin could pass $5 and even begin a climb towards $10.
Layer-Two Network Bitcoin Hyper Prepares for Launch: Over $12.5 Million Raised
As good as XRP looks at the moment, traders may want to consider diversifying into a range of tokens, including newer cryptocurrencies and even presale coins.
Presale tokens can be profitable, particularly if they build up lots of momentum during their sales, helping them to rally hard once they list.
Not every presale coin will set the charts alight, of course, but one example with a better chance than most is Bitcoin Hyper (HYPER), a new layer-two project.
Bitcoin Hyper has already raised just over $12.5 million in its ICO, which is a hugely encouraging sign of its future potential.
And potential it has in spades, given its plans to launch a dedicated layer-two network for Bitcoin (BTC).
In contrast to the Lightning Network, which operates more as a payment rail, Bitcoin Hyper aims to grow a varied ecosystem of dapps and DeFi protocols.
As such, Bitcoin holders will be able to use it to put their BTC to work.
At a technical level, Bitcoin Hyper will use Solana’s Virtual Machine and zero-knowledge rollups, giving it a speed and security that few L2s can match.
Its native token, HYPER, will be necessary to pay transaction fees, while holders will also be able to stake it.
They can buy it now at the Bitcoin Hyper website, where the coin is selling at $0.012815.
This price will rise again tomorrow, so traders should act sooner rather than later.
Visit the Official Website Here
The post XRP Price Prediction: Sideways Action Ends Soon? On-Chain Spike Hints at $10 XRP Incoming appeared first on Cryptonews.
