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XRP jumped to touch the highest levels of 2020 within minutes but woefully slipped below within no time.
The XRP plunge, however, did not experience a deep crash as the price still stands strong above $0.63
With the same momentum, XRP price may touch $1 in the next 48 hours as per some analysts.
Decision Time for XRP, Will it Break the Triangle?
Ripple’s XRP recently surged massively to reach yearly highs. In fact, the XRP price rallied above $0.7 for the first time since mid of 2018. Since then the hourly chart of XRP indicates that the price is trending within a triangle.
Now, the prime focus would be, whether the XRP price will break out or drop below the support levels formed at $0.56. Usually, during a bull run, the price in many cases breaks the triangle and rallies upwards. The trend within the triangle or specifically the dump after touching the yearly highs might be a small correction.
Therefore considering the technicals and the market sentiments, the XRP price may rally to as high as $1 very soon. In fact, some analysts predict the $1 target may get hit in the next few hours!
XRP May Flip Ethereum in coming days
With the continued bull run, the XRP price went to the moon, escorting the market capitalization to new highs. The market cap of XRP which maintained below $10 billion till the initiation of the bull run, has magnificently surpassed over $30 billion in just four days.
On the other hand, Ethereum’s market cap is around $66 billion and XRP might flip the ETH’s top 2nd spot if the price rallied to $1 as per the analyst. One of the analysts called, XRP 2020, who terms himself as official XRP 2020 account predicts that the XRP price would hit $1 in the next 48 hours.
Collectively, Ripple’s XRP has entered a bull run phase and the XRP price is expected to rally to greater heights. The whole XRP community is pretty bullish and predicts that in the short term XRP may hit $1 and later $10 within a few months.