Price Analysis

Is XRP Price Igniting a Rally! Will It Hit $1.60 or Flip to $1?

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The broader crypto market has picked up pace today, as most top coins are on an uptrend. Bitcoin has climbed back to $50K, Ethereum is on its way to claiming $4K and Cardano has achieved a new all-time high at $3.2. 

In tandem with the market, making great moves is Ripple’s XRP. After weeks of sideways trade and making higher highs, the token has caught pace. 

XRP Price broke above key resistance at $1.09 and started a rally. Over the last 24 hours, it has broken the next crucial resistance at $1.27. At the time of writing, it is trading at $1.29 up by 8% in the last 24 hours.

For the rally to continue, a close above $1.27 is necessary. If XRP manages to stay afloat and stage a rise above $1.50 is likely.

In the case of an extended bull run, support from the market can bring $1.70 and subsequently 1.90 to play for the month ahead. 

However, if XRP plunges, $1 will be the major support to hold on too. A break below this can pave way for steeper falls.

XRP Price to the Moon!

Popular analyst Credible Crypto in a recent tweet made a bullish case for XRP Price action. 

Now that XRP has broken above $1.25, according to his prediction, the next stop is in the $1.50-$1.60 level. 

However, a flip price action too is possible. When a Twitter follower asked him if it is a possibility for XRP to dip to $1 again, the analyst said,

“Possible, yes.”

With altcoins breaking out and the next run of the bull cycle approach. It is to be watched out for if XRP stages a bull rally and reclaims its ATH.

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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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