Bitcoin edged towards new all-time highs with the world’s first futures ETF, Proshares Bitcoin ETF, logging over $1 billion in trading volume. While Ethereum’s price is still hovering below $4k, major altcoins are recovering from recent losses.
Unlike Bitcoin and Ethereum, Ripple price is seeing less volatility and is consolidating below $1.20. At the time of writing XRP price is trading at $1.11 with a 1.87% upswing.
Will XRP Price Break Crucial Resistance Levels?
Currently, XRP Price is stuck within the range of $1.12 and $1.15 resistance levels. However, it seems that the altcoin might consolidate at this level. The Near term target lies at $1.1550. However, if the XRP price fails to hold above this level the price might plunge below the horizontal channel’s lower border of 1.0615.
For a long time, the XRP price has been stuck below the $1.12 and $1.15 resistance levels. The main resistance is near $1.20. Further, a close above $1.20 could clear the path for major gains. On the flip side, the price might decline to a $1.05 support zone. In the extended bearish trend, the price may test the main support at $1.00.
The Relative Strength Index indicator is steadily increasing towards 60 levels. The MACD indicator is in the bullish zone with the signal line pointing to the north.
Analyst Expect XRP Price to Hit ATH
A closely followed crypto analyst and trader with Twitter handle CredibleCrypto says XRP is getting ready to ignite a strong move to its all-time high. The pseudonymous analyst tells his 249,600 Twitter followers that XRP Price appears to be mirroring price action from earlier this year when it surged from around $0.30 in March to its 2021 high of $1.96 in April.
The Analyst adds that he expects XRP to surge past $10 this cycle, marking an upside potential of at least 800% from its current value of $1.09.
“The move to $10+ is not going to happen from this next leg of expansion. This next leg should take us close to/maybe a bit past new ATH (all-time high). There will be more periods of consolidation/expansion that follow.”