Will XRP Price Hit ATH This Week?

XRP eyes new highs as it experiences a remarkable surge, reaching a level that was last seen in 2018. This bullisy cryptocurrency market trend shows no signs of stopping. Investors wonder if this momentum is enough to propel XRP price to its all-time high (ATH) this week. Will Ripple bulls come through or will profit-taking catalyze a crash?

Can XRP Price Hit ATH After a Massive Bullish Surge

Crypto expert tweeted that the recent market retracement for XRP signals a strong price movement, with expectations pointing toward a potential breakout. According to the expert, the price of XRP is likely to surge to an all-time high of $3.80 within the next 24 hours. 

XRP has been showing remarkable resilience, and with this latest trend, many believe the digital asset is on the cusp of a major rally. Strong technical indicators and increasing market sentiment fuel the anticipation.

Source: Tweet

XRP price has recently witnessed an strong rally, erasing over three and a half years of losses in a matter of weeks. The Ripple has surged more than 430% since Donald Trump’s reelection as U.S. president, pushing its price from under $0.5 to surpass $1, then $2, and eventually hitting $2.60. 

This breakthrough comes after XRP broke out of a multi-year symmetrical triangle pattern, signaling a potential continuation of its bullish momentum.

Ripple Price Eyes For A Bullish Break Out

The past week has been particularly eventful for XRP, as its market capitalization soared past the $150 billion mark, a level not seen since 2018. This resurgence is largely driven by rising expectations surrounding the imminent approval of Ripple’s stablecoin, RLUSD, by the NYDFS.

With XRP’s recent performance, speculation is growing that the cryptocurrency could reach its ATH of $3.84, set in January 2018. As the bullish trend continues, analysts believe that if momentum builds further, the Ripple price could break its previous record and enter new price territory.

The Ripple explosive growth has sparked widespread interest in the crypto market. XRP may be on the verge of achieving a major milestone if the momentum continues.

The price of XRP hovered at $2.45, reflecting a notable 45% surge over the past week. This rally captured market attention, with a slight increase in the last 24 hours, continuing the bullish momentum. On the technical front, the Relative Strength Index (RSI) on the 4-hour chart sits at 63, indicating that XRP is nearing overbought conditions.

XRP Price Chart By: TradingView

In conclusion, the impressive surge in the XRP price, driven by strong momentum and market sentiment, could push it toward an all-time high. With growing speculation and technical signals, Ripple is on the verge of a major breakout.

Frequently Asked Questions (FAQs)

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.