XRP price is expected to see some immense gains in the near-term, pointing towards $ 1.8 as a potential upside target
XRP price is one of the most surprising beneficiaries of the recent market-wide uptrend, with the previously integrated XRP outperforming Bitcoin’s gain in a short timeframe while at the same time Ethereum and other major cryptocurrencies. The strength of XRP comes after a breakout above the multi-year trading range that it has stuck between $ 0.2 and $ 0.3. When $ 0.3 turned into support, it started to move up parabolic.
XRP/USD 4-hour chart | Source: TradingView
Its momentum is currently slowing down due to some key resistance levels, but its next trend will likely depend on whether Bitcoin and the rest of the crypto market can find stability. or not. Unless Bitcoin achieves stability, altcoins like XRP may struggle to prolong their new growth dynamics.
XRP price to see some immense gains in the near-term, pointing towards $ 1.80 as a potential upside target
Yesterday was a wild day for Bitcoin and the market as a whole. After facing an intense sell-off that sent Bitcoin reeling to as low as $ 16,400 last week, BTC’s bulls stepped up and pushed the cryptocurrency to an all-time high of $ 19,800. on many exchanges yesterday.
The selling pressure here was quite strong and caused the whole market to turn down, with the bulls trying to absorb this selling pressure today. Naturally, XRP is also affected by this volatility.
At press time, XRP is trading down more than 7% at its current price of $ 0.611. This is where it has been traded for the past few days and weeks.
While sharing his thoughts on XRP’s current outlook, crypto trader Livercoin notes that he remains optimistic about its near and medium-term prospects. He claims that a rally to $ 1.12 is probable shortly, followed by a boom to $ 1.80.
“XRP: Aped in. Targets 1.12 and 1.8.”
If XRP hits its bullish target, it will mark a movement almost 3 times the position it is currently trading.
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