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XRP Price Poised to Surge above $1
XRP price traded below $0.6 a considerable number of times, consolidating itself. An initial push rallied the price above $0.6 and a fresh surge jumped the price above $0.7. Woefully, the price faced a rejection yet again and dipped below $0.69 in no time.
However, the price appears to be extremely poised and looking forward to break and close above the strong resistance levels at $0.63. Once the close is above these levels, then the price is expected to gain more than 70%. According to an analyst, Research 24/7, the XRP price projects a 73% bull run to hit the levels close to $1.09.
The price surged above $0.7 for a short time despite not reslisting on the major exchanges and no clarity from the SEC or its lawsuit. Therefore, once the relisting begins, the price is expected to fly high. And with the lawsuit being settled, XRP price may go beyond a double digit figure also.
XRP Price Analysis
XRP price maintained within a consolidated price zone since the beginning of the last month and surged notably in the last week. However, a slight pullback drained nearly 25% of the price and dipped below $0.45.
Nevertheless, the current month began yet again with a consolidation above $0.55, attempting hard to break the $0.6 resistance levels. The price yet again experienced a slight dump before the bull run intensified to rally above $0.7 levels.
The price rose with an aim to smash above $0.7 levels, no doubt it was successful, yet got rejected for the third time. However, the price still remains extremely bullish and attempting hard to have a daily close above these levels.
At the time of writing, the XRP price is $0.7158 with a jump of 17.21% in the last 24 hours. The trading volume also rose more than 50% to record more than $9 billion with a market cap above $31 billion, hence securing 7th position in the cryptocurrency ranking list.
- The resistance levels of Ripple’s XRP is at $0.7612
- The support level is at $0.54
- The indicators for XRP price points towards a buy signal
Also Read: Will Ripple Replace XRP with a Substitute?