XRP Breakout Is Imminent! Can Traders Expect XRP Price to Hit ATH In this Bull Run?

Bitcoin edged towards new all-time highs with the world’s first futures ETF, Proshares Bitcoin ETF, logging over $1 billion in trading volume. While Ethereum’s price is still hovering below $4k, major altcoins are recovering from recent losses. 

Unlike Bitcoin and Ethereum, Ripple price is seeing less volatility and is consolidating below $1.20. At the time of writing XRP price is trading at $1.11 with a 1.87% upswing. 

Will XRP Price Break Crucial Resistance Levels?

Currently, XRP Price is stuck within the range of $1.12 and $1.15 resistance levels. However, it seems that the altcoin might consolidate at this level. The Near term target lies at $1.1550. However, if the XRP price fails to hold above this level the price might plunge below the horizontal channel’s lower border of 1.0615.

For a long time, the XRP price has been stuck below the $1.12 and $1.15 resistance levels. The main resistance is near $1.20. Further, a close above $1.20 could clear the path for major gains. On the flip side, the price might decline to a $1.05 support zone. In the extended bearish trend, the price may test the main support at $1.00.  

The Relative Strength Index indicator is steadily increasing towards 60 levels. The MACD indicator is in the bullish zone with the signal line pointing to the north.

Also Read : XRP Price Eyeing 55% Upswing! Altcoin to hit $1.35 in Near Term

Analyst Expect XRP Price to Hit ATH 

A closely followed crypto analyst and trader with Twitter handle CredibleCrypto says XRP is getting ready to ignite a strong move to its all-time high. The pseudonymous analyst tells his 249,600 Twitter followers that XRP Price appears to be mirroring price action from earlier this year when it surged from around $0.30 in March to its 2021 high of $1.96 in April.

The Analyst adds that he expects XRP to surge past $10 this cycle, marking an upside potential of at least 800% from its current value of $1.09.

“The move to $10+ is not going to happen from this next leg of expansion. This next leg should take us close to/maybe a bit past new ATH (all-time high). There will be more periods of consolidation/expansion that follow.”

Also Read : XRP Price Could Surge the 5x To Hit More Than $5! But When?

Source: https://coinpedia.org/ripple/can-traders-expect-xrp-price-to-hit-ath-in-this-bull-run/