Story Highlights
- Ripple price rises by ~7% and claims the $1.5 mark today.
- The technical indicators point to increased bullish sentiment.
- Continued bullish action could see the altcoin hit a new 52-week high.
With a favorable development for XRP in the Ripple vs SEC lawsuit, the XRP price has successfully retested its key support level. Moreover, with a trading volume of $6.67 billion, this altcoin is currently valued at $1.54.
Amid continued price volatility, will the price of Ripple (XRP) reach $2 this year? Read our in-depth Ripple price analysis article to find out!
XRP Price Records Increased Bullish Action!
Ripple price has reclaimed the $1.5 mark with an intraday spike of ~7% and trading volume of $6.671 billion. Moreover, it has formed a triangle pattern and is on its way to testing its resistance trendline.
The Simple Moving Average (SMA) continuously supports the Ripple price chart in the 4H time frame. This highlights an increase in buying-over-selling pressure in the cryptocurrency market.
Additionally, the Relative Strength Index (RSI) continues to hover above the midpoint, with the average trendline experiencing a steady rise. This suggests that the altcoin could continue to gain value in the near future.
Will XRP Rise Again?
If the bulls maintain their bullish sentiment, Ripple price will retest its 52-week high around $1.65.
Conversely, a bearish move could pull the price towards the important support level at $1.43 in the coming hours.
Curious about the long-term price prospects of Ripple tokens? Read CoinPedia’s XRP Price Prediction and also subscribe to us to stay up to date with the latest crypto news!
Frequently asked questions
The price of XRP coins could cross the $10 mark by 2030.
If bullish sentiment continues, this altcoin could reach a high of $6.23 in 2029.
Ripple price could cross the $2 mark with a potential high of $2.49 in 2025.
Credit : coinpedia.org
