Ripple is outperforming Bitcoin with daily gains by 11% at the time of the writing, which is a rarity, especially with the SEC charging Ripple company for issuing unregistered security, referring to XRP being unlawfully launched and sold. The daily gains for Ripple’s token XRP are hitting the roof with 12% of rises, also recording nearly 30% of gains for the week. As XRP is close to scoring 0.60$, the crypto is still far from its ATH of 3.40$. since reaching an all-time high price of 3.40$ in January of 2018, XRP dipped by over -80%. What is awaiting XRP with the recent bullish behavior and will XRP manage to reach the target price of 1$ by the end of 2021?
XRP on the Road of Bullishness
XRP used to trade as the third-top cryptocurrency in the market by capitalization, also briefly reaching the second spot on the list of all cryptos and pushing ETH down the list. However, these days, that is not the case for Ripple’s perhaps controversial crypto. As the Coindesk portal notes, the XRP chart is showing a pattern known as the golden crossover, which is an indicator of a long-term bullish momentum. That might mean that XRP will manage to reach new highs and dip to high lows in the following period, despite the SEC turmoil. According to Whale Alert, which is a blockchain tracking and analytics firm, an XRP Whale transferred 330 million dollars in XRP on March 15th, which might have pushed the price of XRP to a certain extent. If it to trust the golden crossover pattern, XRP is in for long-term gains and might reach 0.60$ then head for 1$.
XRP Price Analysis for March 16th to 22nd, 2021
- XRP is currently trading at the price of 0.57$ after the latest price correction with 12% of gains for the day
- The weekly chart is recording 27% of gains
- The lowest price for the week is 0.43$
- The highest weekly price is recorded at the value of 0.57$, which is the current value at the time of the writing
Image credits: Cover photo taken from slon.pics