XRP is back
|Ripple’s XRP has seen some phenomenal rally over the past two days especially the XRP price exploded yesterday. There is no doubt that XRP holders have been waiting for this moment and for this momentum for a long time and this is because XRP hasn’t seen its golden days since the price plunged from its all-time high. Other crypto coins such as Bitcoin and Ethereum not only passed their all their time high but they have more than doubled but XRP has been very much underwater.
So the question for investors is what can really push the XRP price? Well, to begin with, we still have that SEC case against XRP and as long as that threat keeps on looming, it will be very difficult to see a serious rally. What I mean by a serious rally is XRP’s price not only crossing the $3 price mark but going all the way to $5 or even more. The other challenge is that XRP needs to do some serious work on cross border payment system, the recent surge in XRP’s price is mainly because we have seen some positive news flow.
In terms of technical, we have seen the XRP’s price breaking out of its three-year consolidation pattern and this means that we could easily see XRP’s price going higher by at least another 50 cents and that means XRP’s price going to 1.30.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.