A leading data analysis company in the digital currency market conducted a survey of leading analysts on the classification of digital currencies, and Ripple ranked second as the most popular digital currency after Bitcoin, supporting analysts’ bullish expectations for the currency’s price in the long term.
Kaiko, a global market data provider for institutional investors, revealed its rankings for the third quarter of the year, where Ripple shares second place with Ethereum-ETH, ahead of Dogecoin and Solana.
Kaiko’s scoring mechanism is based on a comprehensive analysis of a set of characteristics of each cryptocurrency within a 100-point index that measures the asset’s strength and future prospects, including potential functional uses, resources and research.
Institutional trust in the Ripple (XRP Ledger) blockchain appears to be growing rapidly. The first Ripple Spot ETF (Ripple Spot ETF) was recently launched and in a short time it managed to attract $100 million in investments, despite the recent sell-off seen in the market.
Ripple Price Forecast: Buyers Return to $2.10, Has Recovery Phase Started?
Ripple recouped some of its rally today after taking heavy hits in recent days that sent its price down to around $2.08. The price rebounded again towards $2.30, while trading volumes declined, indicating a possible easing of selling pressure. Additionally, the price rebounded from a crucial support level at $2.10, suggesting that the recent sell-off was just an overreaction.
For the bullish momentum to continue, price must rise above the 200-day exponential moving average (EAM-200), with the relative strength index (RSI) surpassing its 14-day MA. Despite this temporary decline, institutional interest in the technical system of the Ripple currency remains strong, which is one of the main factors supporting expectations of a bullish price of the currency in the long term. If the current rebound accelerates, the price of the currency could reach the $4 level in the coming weeks.
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The article Ripple-XRP Price Forecast: After ranking second after Bitcoin-BTC, ahead of Solana-SOL and Dogecoin-DOGE appeared first on Cryptonews Arabic.
