The entire crypto market has recently experienced a huge comeback. Most cryptocurrencies in the market have resumed their uptrend, with some even setting new all-time highs. Bitcoin (BTC) was back above $50,000. Major cryptocurrencies such as Ethereum, Binance’s BNB, Cardano, and Ripple’s XRP have contributed to the total crypto market value reaching above $2.1 trillion.
XRP price is currently trading at $1.23, down 1.19 percent in the last 24 hours. Because buying strength had remained low throughout the previous trading sessions, the alt fell short of its immediate barrier at $1.31.
A surge in buying pressure pushing XRP over the triangle’s upper trend line at $1.26 might result in a 30.74 percent breakout towards $1.65.
On Aug. 21, the bears attempted to halt XRP’s recovery of around $1.28, but the weak drop on Aug. 22 shows that bulls are not closing their positions quickly. The bulls will now attempt to push the price above the $1.35 overhead resistance. If they succeed, the XRP might gain traction and rise to $1.66, the next major barrier level.
Also Read : Analyst Predicts XRP Price To Hit $20-$30, Is Lawsuit Settlement & Relisting On The Cards?
In contrast to this, if the bears gain control, the pair might fall to $1.07. If the price falls and stays below $1.07, the trend may shift in favor of the bears.
The Relative Strength Index, on the other hand, has seen a revival of buying strength as of press time, and was near the 51 mark, in the positive zone.
Analyst targets XRP Price between $20 and $30
In this bull cycle, Credible Crypto expects XRP price will reach anywhere between $20 and $30. The trader’s aim for XRP is a 2319 percent increase over current prices, based on current pricing.
According to Credible Crypto, once XRP breaks its all-time highs of $3.40, the token will go into an explosive price discovery phase that could end up as high as $30.00
“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month”
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Source: https://coinpedia.org/price-analysis/xrp-price-awaits-a-major-breakout/
