Story Highlights
- The XRP price has increased by 32.32% in 24 hours with a trading volume of $28.15 billion.
- Ripple token surpasses Tether and Solana to become the third most valued crypto token.
- Technical indicators are registering continued bullish action, suggesting a higher price target this year.
With a monthly increase of 378.98%, Ripple Labs’ native token “XRP” is trading at a discount of just 36.08% from its ATH of $3.84, which was recorded on January 4, 2018. Moreover, now the average profit/loss of XRP holders exceeds +225%, the XRP token has outperformed all major tokens.
Amid this volatility in the altcoin market, let’s take a look at the potential short-term opportunities of the Ripple (XRP) crypto token.
XRP Price Records High in 72 Months!
For the first time since November 2018, XRP price has regained the third position in the global cryptocurrency business as measured by market capitalization. Notably, with a trading price of $2.4470, this altcoin is trading at a six-year high.
Moreover, with the recent price pump, Ripple price has broken its resistance trendline of the ascending channel pattern in the 1D time frame. This shows a positive price outlook for the XRP altcoin this week.
The technical indicators SMA and RSI have each recorded strong bullish price action in the daily time frame. This suggests a massive increase in buy-over-sell pressure for this altcoin in the cryptocurrency market.
Ripple surpasses Tether and Solana to become the third largest cryptocurrency!
With a 24-hour gain of ~33% and trading volume of $28.213 billion, a change of 104.27%, the Ripple (XRP) crypto token has regained a multi-year high in its valuation. Notably, it has outperformed both Tether and Solana in terms of market capitalization.
With a market cap of $139.701 billion, the XRP crypto is now valued ~04% above Tether’s “USDT” and a whopping ~26% above Solana’s “SOL” token.
Will XRP Price Hit a New ATH in December?
If the market continues to favor the bulls, Ripple price could cross the $2.5 mark. Maintaining the price at that level could pave the way for a $3 price target in the coming hours.
On the contrary, if the bearish trend reversal occurs, the XRP coin price could potentially retest its lower supporting trendline at $2.
Wondering what’s next for the Ripple price after it hits a new all-time high? Read CoinPedia’s XRP Price Prediction and subscribe to us to stay up to date with the latest crypto-related news!
Frequently asked questions
If bullish sentiment continues, the Ripple token could reach a high of $4 by 2025.
With a monthly return of ~380%, this altcoin is micro-monitored by top investors and whales of the crypto market.
With bullish price action, the XRP crypto could cross the $10 mark by 2030.
Credit : coinpedia.org
