The XRP price rose by 15% this week. After a period of falling prices, the altcoin now seems to be recovering, thanks in part to long-term holders who are holding on to their tokens. How high can the Ripple price rise?

Investors maintain confidence

The Mean Coin Age (MCA) remains stable. This means that long-term holders (LTHs) are not selling their XRP, despite recent fluctuations. Usually, the MCA drops when many investors sell their tokens, but that is not happening now. This shows that long-term holders have confidence in a further price increase.

Long-term holders play an important role in the market. Their patience and confidence send a positive signal, which can help with further price increases.

In addition to investor confidence, technical indicators show that XRP is in a more favorable position. The Average Directional Index (ADX) has dropped below 25.0. This means that the previous downward trend has weakened, making a recovery possible.

A decreasing downward trend makes the market more favorable for XRP. When bearish momentum decreases, it can provide room for price recovery and further growth.

Can the XRP price continue to rise?

The XRP price is trying to find support around $2.33. If this level holds, XRP could rise further towards $2.70.

Earlier this week, XRP found support on the upward trend line. If long-term holders continue to hold on and market conditions improve, XRP could break through $2.70 and aim for $2.95.

If it fails to break through $2.70, the price could remain in a consolidation phase between $2.33 and $2.70. This would slow further growth and weaken the bullish trend.

Conclusion

XRP has had a strong week with a rise of 15%. Long-term holders are showing confidence and technical signals point to a declining downward trend. Important support lies at $2.33 and resistance at $2.70. If XRP breaks through this resistance, $2.95 is in sight. If it does not, the price is likely to continue moving sideways.

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