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Ripple Price Analysis: XRP Price Might Hit $2 If It Clears the $0.49 Barrier

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Highlights

    Crypto community speculates on a new altseason as assets like Ethereum, Ripple, and Cardano have been surging

    XRP price soars 65% in one week to new yearly high

With the start of the week, we can see many Altcoins outperform Bitcoin as Rally Accelerates. XRP price leads with 67% gains over the week. With Bitcoin Price hovering in $18K resistance major altcoins are showing massive gains. 

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Among the top 10 Crypto Cardano ADA is leading with 17% gains, Followed by Etherem and Ripple with 6% and 3% gains respectively. Other Altcoin also gained over 8%, together with WAVES, NMR, YFI, REN, VET, CEL, ZEN, and MIOTA. 

WAVES Price surged over 30% and it broke the USD 7.80 stage. However, right now Ripple’s XRP is the talk of the town. In the past couple of days, XRP price outperformed Ethereum and bitcoin.

Also Read : Ripple Price Analysis: Analyst Believe XRP Price Might Hit $25 to $30!

Analyst Bullish on Ripple Price 

Popular crypto analyst, Michaël van de Poppe, has traced XRP’s next move after the minor breakout.

He added that if XRP manages to cement a new level of support, investors and traders should expect a rally to $0.55 early next year:

“If we flip that, we can make another higher low and we are going to target a new higher high in the next quarter and I’m expecting the next happy altcoin season to occur between January and March or April. That next upwards run will probably take XRP towards the next resistance zone to $0.55 or $0.65.”

Commenting to the tweet, another Crypto trader claimed that “0.49$ brake Will give massive run to over 2$”.

Also Read : Ripple Price Analysis: This Popular Analyst Predict XRP price to Hit $1 Soon!

XRP Price Analysis 

Following Saturday’s 40.04% surge, Ripple’s XRP ended the week up by 65.9% to $0.44669. Despite, XRP Price falling by 3.56% on Sunday, it was successful in maintaining the bullish track. It’s a mixed start to the week. Ripple’s XRP rallied to an early morning intraday high of $0.4980 before hitting reverse.

A bullish start to the day saw Ripple’s XRP rise from an early morning low of $0.44603 to a high of $0.45320. At the time of writing, XRP is trading at $0.460899 with 3% gains. The altcoin is currently holding a market cap value of $20,891,694,669 with $17,159,697,301 trading volume. 

Falling short of the first major resistance level at $0.5122, XRP plunged to an early morning intraday low of $0.40401. The pullback saw XRP fall back through the 38.2% FIB to $0.4080 levels before finding support. However, XRP broke through the 38.2% FIB to revisit $0.48 levels.

In the event of a bullish rally, Ripple’s XRP could test resistance at $0.55 before any pullback. The second major resistance level sits at $0.5436. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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