Ripple’s XRP Price Soars 6%: Will It Hit a New 52-Week High?

The post Ripple’s XRP Price Soars 6%: Will It Hit a New 52-Week High? appeared first on Coinpedia Fintech News

With a strong bullish recovery, the XRP price has added 6.83% to its portfolio in 24 hours. Moreover, the Ripple token is trading at a discount of only 38.89% from its ATH of $3.84, which was recorded on 04th January 2018. Notably, it has surged over 300% in 30 days.

Considering the present market sentiments, let’s find out the possible short-term possibilities of the 04th largest cryptocurrency by market capitalization.

XRP Price Records Increased Price Volatility!

The Ripple price has experienced a strong bullish recovery after trading under a negative influence for 2 consecutive days. Further, with a market cap of $134.55 billion, this altcoin has currently secured the 04th position.

The Moving Average Convergence Divergence (MACD) shows a rising red histogram with its averages showing a bearish convergence in the daily time frame. This highlights an increase in the selling pressure for the altcoin in the crypto space.

On the other hand, the Simple Moving Average (SMA) records a negative curve in the XRP price chart, indicating a negative outlook for the altcoin in the upcoming time.

Will XRP Price Hit $3?

If the bulls regain momentum, the XRP coin price will retest its resistance level of $2.50. Maintaining its price above that level could push the price of this altcoin toward its new 52-week high this month.

On the flip side, if the bears gain power, the Ripple token could drop to its support level of $2.25. If the bulls fail to regain momentum at that point, it could plunge toward its low of $2.

To find out when will Ripple price hit a new ATH. Read CoinPedia’s XRP Price Prediction. Also, subscribe to us to stay updated on the latest cryptocurrency news!

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