Bulls Hold XRP at $0.37: Will XRP Reach $1 Soon?

• XRP price at $0.372400, up 1.2% in the past 24 hours
• Ripple had exposure to Silicon Valley Bank, but expects no disruption to its day-to-day operations
• Technical indicators suggest that XRP could rise in the near future

XRP Price Stands At $0.372400

The XRP price stands at $0.372400 this morning, having risen by 1.2% in the past 24 hours in the context of a 2% increase for the market as a whole. Its current price means that XRP has fallen by 2% in a week and by 1% in the last 30 days, although the altcoin has gained by 9.5% since the start of the year.

Ripple’s Exposure To Silicon Valley Bank

Ripple had reported some exposure to Silicon Valley Bank, which was placed under federal receivership on Friday, CEO Brad Garlinghouse disclosed that the company expects no disruption to its day-to-day business. This seems to have steadied XRP’s price action in the past few days, while it has also benefitted along with the market from federal intervention to stabilize the ongoing banking crisis.

XRP Price Prediction

XRP’s indicators currently find themselves in a promising position, with its 30-day moving average (red) looking as though it could begin rising toward its 200-day (blue). Such a move would indicate a breakout rally, which is supported by XRP’s relative strength index (purple), which is still in an oversold position. This means that it’s due a correction to more bullish territory, something which could very easily happen in coming days

XRP Had Risen As High As $0.386898

XRP had actually risen as high as $0.386898 within the last 24 hours, making for a 7% compared to where it was on Monday. However, yesterday’s market-wide rally lost some steam recently yet coin held at its support level of $0.37 indicating possibility of further uptrends soon

Conclusion

Overall technical analysis suggests that XRP is primed for an above-average climb and could benefit from any positive news from SEC ruling later this year regarding Ripple’s case against them