The broader crypto market has picked up pace today, as most top coins are on an uptrend. Bitcoin has climbed back to $50K, Ethereum is on its way to claiming $4K and Cardano has achieved a new all-time high at $3.2.
In tandem with the market, making great moves is Ripple’s XRP. After weeks of sideways trade and making higher highs, the token has caught pace.
XRP Price broke above key resistance at $1.09 and started a rally. Over the last 24 hours, it has broken the next crucial resistance at $1.27. At the time of writing, it is trading at $1.29 up by 8% in the last 24 hours.
For the rally to continue, a close above $1.27 is necessary. If XRP manages to stay afloat and stage a rise above $1.50 is likely.
In the case of an extended bull run, support from the market can bring $1.70 and subsequently 1.90 to play for the month ahead.
However, if XRP plunges, $1 will be the major support to hold on too. A break below this can pave way for steeper falls.
XRP Price to the Moon!
Popular analyst Credible Crypto in a recent tweet made a bullish case for XRP Price action.
Now that XRP has broken above $1.25, according to his prediction, the next stop is in the $1.50-$1.60 level.
However, a flip price action too is possible. When a Twitter follower asked him if it is a possibility for XRP to dip to $1 again, the analyst said,
With altcoins breaking out and the next run of the bull cycle approach. It is to be watched out for if XRP stages a bull rally and reclaims its ATH.