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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Aug 19, 2024 12:35 UTC
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XRP Price on Fire! Japanese Research Predicts Q4 Volatility Surge
Japanese research forecasts increased XRP volatility in Q4 2024, hinting at a major price surge.
Past volatility spikes in XRP's history often resulted in rapid and significant price jumps.
XRP's trading volume recently surged by 137%, indicating growing market interest
XRP, the seventh-largest cryptocurrency by market capitalization, is gaining attention as new research from Japan indicates a potential period of heightened volatility in Q4 2024. This price volatility could trigger a significant surge for XRP, sparking discussions about the potential for one of its biggest price breakouts in history.
What’s next?
Prepare for Volatility!
According to a report from Japanese blockchain firm HashHub, XRP may be headed for increased volatility in the last quarter of 2024. Historical patterns suggest that this volatility could trigger a substantial price surge, echoing past market movements.
Stable, Yet Set for Change
Throughout 2023 & the first half of 2024, XRP showed notable stability, consistently holding strong support levels, particularly around the $0.52 mark. Despite some minor fluctuations, XRP maintained its position above these key levels.
In Q3 2023, XRP’s average price was $0.574, with a median of $0.521. The following quarter saw a bullish shift, with the mean price rising to $0.593 and the median to $0.613, reflecting increased volatility and rapid price swings.
However, as 2024 progressed, XRP entered a consolidation phase. In Q1 2024, the mean and median prices slightly adjusted to $0.577 and $0.575, respectively. By Q2 2024, the market showed signs of cooling down, with the mean price dipping to $0.523 and the median to $0.518, suggesting a loss of momentum.
What History Tells Us
Data from blockchain analytics firm Santiment indicates that XRP’s 4-week volatility has historically been a precursor to price spikes. For instance, in December 2017, a volatility increase to 0.62 led to XRP’s monumental surge, while in April 2021, a similar rise to 0.47 coincided with XRP’s price rally to $1.96.
Further analysis of XRP’s weekly Historical Volatility (HV) supports this outlook. The HV indicator measures price fluctuations over time, and while current volatility is low, historical trends suggest that a spike in this metric often precedes a price increase.
For example, in September 2022, a sharp rise in XRP’s HV led to a 37% price jump within just one week. A similar pattern occurred in July 2023, resulting in a 59% rally.
XRP Price Analysis
As of now, XRP is trading at $0.58, reflecting a 2.7% increase over the last 24 hours. Trading volume has surged by 137%, bringing the market cap to $32.7 billion, further fueling speculation that XRP may be on the brink of a significant breakout.
The crypto world is buzzing about XRP. Are you buying, selling, or holding? Let’s discuss.
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