Today, extreme price volatility graced the cryptocurrency markets. Within the past 24 hours, many altcoins, have overtaken the market with impressive gains. XRP Price is taking the lead, as major altcoins like ETH and XLM are ruthlessly trying to catch up from behind.
In the past few sessions, there was a strong increase in most major altcoins, including TRX, BSV, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash, and ADA. ETH/USD surged 7% and it is now trading above $600. XRP/USD is still surging and it was able to climb above USD 0.650 and USD 0.675.
Analyst Believe XRP Price Is All Set to Reach Its ATH
As for where XRP could trend in the near-term, one analyst explained that he is closely watching for a move up towards $0.70, adding that it could even surge past this price.
Crypto tracking tool , @tokenmetricsinc believe that, In a world of CBDCs, $XRP is massively undervalued. Additionally, he also shared a $XRP weekly chart chart with bollinger bands indicating a much bigger rally.
Another Active crypto analysts believe that XRP price will definitely reach $10 sooner or later. He shared a chart claiming , “The bigger the base, the bigger the move. It really is that simple”.
Also Read : Will Ethereum Overcome the Recession in 2020?
Ripple (XRP) Price Analysis
XRP was one of the few cryptocurrencies not going up despite the bullishness of the market. The XRP growth over the past week is truly commendable. The cryptocurrency managed to surge by over 100% when it started to climb from $0.28 to explode higher.
At the time of writing, XRP is trading at $0.768769 with a 68% spike. The altcoin is currently holding a market cap value of $20,891,694,669 with $17,159,697,301 trading volume.
Initially, XRP price remained elevated and it rallied over 50%. There was a clear break above the $0.650 and $ 0.675 resistance levels. If the price breaks the $0.700 level, the next stop for the bulls could be $ 0.715. On the downside, there are many supports forming, starting with $0.675 and $0.662.
In the event of another extended rally, Ripple’s XRP could test resistance at $0.75 before any pullback. The second major resistance level sits at $0.7438.
Barring an extended crypto sell-off, Ripple’s XRP should steer well clear of sub-$0.40 levels. The second major support level sits at $0.3692.