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XRP Price Skyrockets With Bitcoin Price Reaching New ATH

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Highlights

    Bitcoin price is up almost 15% and traded to a new all-time high above USD 22,000.

    XRP price trimmed almost all its losses of this week and it rallied over 25%.

The Bitcoin price successfully reached its all-time high, as it breaks a key resistance level above $20,000.  Major altcoins are following the flagship crypto, XRP price finally managed to mark an impressive daily rally as its price is now resting at around $0.56.

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Even Ethereum Price is showing massive gains with 10% surge trading at $642.46. Major Altcoins also seem to follow the Bitcoin Rally, XLM, LTC, XVG, and other alts seem bullish.

XRP Price Analysis 

XRP price

Despite the newest price spike thanks to Bitcoin’s new all-time high, XRP still trades inside a daily downtrend and hasn’t been able to recover the 26 EMA support level. Bears remain in control as there is very little support to the downside.

 However, in the short-term, bulls might see further upside action as the TD Sequential indicator has just presented a buy signal on the 4-hour chart. The MACD also turned bullish, which adds credence to the signal.

A clear break above the current levels can push the price further to $0.6 and $0.7 levels. It may revisit $0.73 resistance if the price continues to increase.

If XRP sees another selloff, it may slip to $0.458. A drop below this could send the price further to $0.4 and potentially $0.33, where it broke out in November. The RSI and MACD are currently low, suggesting bears are still present.

Overall, the XRP/USD prices have defied consolidation from the record high and are likely heading north for the fresh top.

  • Support levels: $0.44 and $0.30,
  • Resistance levels: $0.60 and $0.72

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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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