Whereas most crypto traders are keeping a close eye on what Bitcoin and Ethereum are doing, there is a lot more to look forward to. The current XRP price surge seems to hint at a strong push to $0.25 in the near future.
XRP Price Momentum Keeps Building
Similar to most crypto assets out there, Ripple’s XRP is going through a bullish period. A strong uptrend began forming about a month, eventually pushing the value from $0.175 to $0.2 in quick succession. Following a brief spell of accumulation near this level, the uptrend has been resumed relatively successfully. Pushing the XRP price to $0.25 will be the next order of business, although it won’t come easy.
In terms of the XRP/BTC ratio, things are not looking too great, That is only to be expected, as alternative assets will bleed value against Bitcoin when the leading cryptocurrency is gaining value. For now, the 2,179 Satoshi level seems to be under some pressure, but it remains to be seen if any headway can be made in this regard.
Social Sentiment Remains Strong
Unlike most other coins, the XRP community is still going strong. Whereas some may be looking to take a profit at this level, the remainder of the community remains confident better things will happen. A healthy boost in social volume, engagement, sentiment, and news volume shows that the momentum remains bullish.
How high the XRP price will go in the coming days, is difficult to predict. Pushing past $0.25 will pose its own set of challenges. Some community members expect to see $1 again, but that seems rather unlikely at this time. That being said, the current social engagement for XRP is very prominent, which will have an impact on the market’s momentum.
Overall Liquidity Looks Good
During times like these, it is pertinent to provide ample market liquidity. XRP Has never had much of an issue in this particular regard. According to Messari, the current liquid market cap of Ripple’s native asset sits near $7.6 billion. While it is well behind both Bitcoin and Ethereum, it’s also ahead of ChainLink, BCH, and Cardano.
It is also worth noting that XRP has noted an interesting amount of transaction volume over the past 24 hours. With $222.262 million, the network ranks in 9th place. The median transaction volume in USD is $46.25. All of these statistics are healthy, all things considered.
What are the Charts Saying?
From a technical point of view, XRP is in a good place. As far as XRP/USDT is concerned, there is a very bullish MA20 which is looking to cross over the MA200 in the coming days. It has already passed the MA50 a few days ago, confirming this uptrend has some life left to it.
With the RSI currently in overbought territory – but showing no signs of decreasing – it will be interesting to see what happens. There are no immediate resistance levels to be hit today, until at least $0.27746. The push to $0.25 is still in full effect, and – barring any sudden Bticoin price collapse – it should materialize ahead of the weekend.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.
