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XRP Price Massive Rebound Expected! May Hit $3 Soon!

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Highlights

    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 45% profit.

XRP Price Analysis

XRP reached a high of $0.72 early Monday, the highest level since February 2, and was last seen trading around $0.868  According to Coingecko, the third-largest cryptocurrency by market value has gained 25.8% in the last 24 hours.

xrp price

At 08:55 UTC on Tuesday (April 6), on crypto exchange Bitstamp, the XRP price reached an intraday high of $1.01307. This is the highest price XRP has seen in 1,128 days.

During the increase, there was a break above a couple of bullish continuation patterns at $0.6000 and $0.7180 on the 4-hours chart of the XRP/USD pair. The pair even cleared the $0.8000 and $0.9000 resistance levels. A new multiweek high is formed near $0.9443.

Technical Specifications

  • 4-Hours MACD – The XRP/USD is in the bullish zone.
  • 4-Hours RSI (Relative Strength Index) – The RSI is now in the overbought zone.
  • Major Support Levels – $0.8550, $0.8000, and $0.7500.
  • Major Resistance Levels – $0.7250, $0.7500, and $0.8000.

Reason Behind Sudden Surge !

The Ripple price has been resilient even after the SEC lawsuit that culminated in many exchanges like Coinbase and Binance suspending the XRP token. Analysts believe that the lawsuit will have no major impact on XRP, which is now decentralized and independent from Ripple Labs. Indeed, in an interview with CNN, the company’s CEO said:

“We could do that. We’ve always thought about our product as ‘How do we solve a customer’s problem first and foremost?’ And I think that has served our growth. It’s a reason why we have seen so much activity now, billions and billions of dollars of transactions across Ripplenet, our network for payments”.

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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.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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