XRP price rally attempting very hard to break the $0.6 resistance levels, once broken successfully, the next target would be smashing yearly highs at $0.8
The price rally is expected to surpass $1 very soon, moreover, $3 appears to be imminent
A huge influx of volume in the past hours!
The XRP Price which maintained a steady momentum jumped massively in the past couple of hours. The trade for the day began with major crypto assets attempting very hard to sustain the trembling position, whereas XRP stood above all comfortably marking 4% profit.
As of now, the asset has not experienced any selling pressure which clearly indicates that the XRP Army is poised to smash the target set at $1. Moreover, analysts Moza believes that the XRP price is all set to hit $3 by 17th February 2021.
The rally is expected to accelerate more until it hits the target of $1 which may occur any time in the coming as predicted by another analyst and trader 360Trader
XRP Price Analysis
The XRP Price in tha last working day initiated with a 10% pump which carried the price from $0.4793 to $0.5288. Later the price consolidated for the rest of the day trending within $0.5 to $0.53 but did not plunge below the $0.5 levels. The trading volume also remained within the average range due to which the price did not receive the required boost.
The consolidation continued in the early hours of trade also the asset price was dropped a little but not below $0.5. Very soon XRP price experienced a major push which escorted the price from the levels close to $0.51 to more than $0.57 gaining nearly more than 12%.
Currently, the XRP price appears to be self-assured of attaining the higher resistance levels close to $0.8. Once these resistance levels are broken, surpassing $1 would be effortless. However, many analysts still believe the SEC lawsuit clearance would rally XRP price to more than $10 too.
- The resistance level is formed at $0.8
- The support level is formed $0.4847
- The indicators for XRP price point out towards a ‘buy’ signal