NewsPrice Analysis

XRP Price Proclaims Bull Run Vibes Yet Again, a Bigger Pump Is Likely Incoming!

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Highlights

    XRP price finally breaks the $0.5 resistance, heading strongly towards $0.6 levels

    A top US lawyer predicts a possible settlement between SEC and Ripple which will bring back XRP trading on exchanges

    XRP has not experienced a major bull run yet, therefore a huge price surge is expected in coming days.

XRP Price Major Breakout!

XRP price smashed the above resistance levels close to $0.5 and continues to rally above with less efforts. Moreover, the price has also broken the trend line and surged within no time. The large influx of volume into the platform of about $10 billion led to the massive jump in the price.

With the growing momentum, XRP price may yet again enter the top 3 cryptocurrency ranking list by attaining the levels above $0.65 or $0.7. Currently, it is very important for the XRP price to maintain above the $0.5 levels and convert them into strong supports. 

According to an analysts, Crypto Whale, the XRP price may jump more than 1500% similar to the 2017 bull run, once the SEC lawsuit is cleared. He futher tells that, XRP is the only asset in the top 50 which has not entered the bull market and a major breakout is imminent.

There might be two main reasons for the XRP pump according to an analysts TOP AIM STOCKS. One is the lawsuit being filed on Ripple and the other is the lawsuit aganist them being settled. Many believe the Ripple lawsuit will be settled well before and the XRP trading may resume in the US very soon.

XRP Price Analysis

XRP Price experienced  a planned pump at the beginning of this month that rallied the price close to $0.8. Within hours of pump, the price fell drastically shedding all the profits profusely below $0.35 marks. However, the price consolidated below $0.4 for a couple of days and rallied close to $0.5, but got rejected. 

XRP price

Further, the price maintained a constant trend aound $0.44 before yet again a slight pull back close to $0.4 levels. Since the last working day, the price gained a huge momentum and initiated an uptrend which went close to $0.5 and dipped a couple of times.

Finally, the most positive market sentiments and a large influx of trading volume led the price to break the resistance levels at $0.5. At the time of writing, the XRP price is $0.5273 with a massive jump of 12% in the last 24 hours. However, still, the XRP price rally needs to gain an additional 700% to smash its ATH as it is extremely undervalued according to a popular analyst, CryptoBull2020.

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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.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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