Will It Hit a New 52-Week High?
Amid a strong bullish recovery, XRP price gained 6.83% in 24 hours. Additionally, Ripple tokens are trading just 38.89% below the $3.84 ATH recorded on January 4, 2018. Notably, it surged more than 300% in 30 days.
Given the current market sentiment, let’s take a look at the short-term possibilities for the fourth-largest cryptocurrency by market capitalization.
XRP price hits all-time high, price volatility intensifies!
Ripple price has experienced a strong bullish recovery after two consecutive days of negative impact. Furthermore, the altcoin currently ranks fourth with a market capitalization of $134.55 billion.
The Moving Average Convergence Divergence (MACD) shows a rising red histogram with its average indicating bearish convergence on the daily time frame. This highlights the increasing selling pressure on altcoins in the cryptocurrency space.
On the other hand, the simple moving average (SMA) has recorded a negative curve on the XRP price chart, indicating poor prospects for the altcoin in the coming period.
Will XRP price reach $3?
If the bulls regain momentum, the XRP coin price will retest the $2.50 resistance. Sustaining its price above this level could push the altcoin’s price to a new 52-week high this month.
On the other hand, if the bears gain strength, the Ripple coin may drop to the $2.25 support. If the bulls fail to regain momentum at this point, the price could drop towards lows of $2.
Find out when Ripple price will reach new highs. Read CoinPedia’s XRP Price Prediction. Also, subscribe to us to stay up to date with the latest cryptocurrency news!
FAQ
For Ripple to achieve this price target, its valuation would need to rise by 753.38%.
The Ripple coin has an intraday change of +6.12% and is currently valued at $2.3436.
If the bullish sentiment continues, this altcoin may reach a maximum price of around $4.00.
