Story Highlights
- Ripple price reclaims the $0.80 mark for the first time since 14th July 2023.
- Gary Gensler’s resignation sparks price to soar over 30% within hours.
- Bullish action could push the XRP price toward $1 soon.
The XRP price has outperformed the top cryptocurrencies with a meteoric rise in its valuation. Notably, it has surged ~28% in the last 48 hours, highlighting increased buying sentiment for the altcoin in the crypto market.
with the Ripple token experiencing a strong bullish price action over the last few days, will Gary Gensler’s resignation push the XRP price to $1? Find out the short-term possibilities of this highly volatile crypto token by the end of this article.
XRP price Records Multi-month High!
With a jump of ~21% in the past 24 hours and a trading volume of $12.623 billion, the Ripple token has maintained its bullish sentiment. Furthermore, this altcoin has soared 58.36% in the last seven days and has a market capitalization of $49.614 billion.
The Relative Strength Index (RSI) continues displaying an upward trend above its overbought range in the 1D time frame. This suggests that the altcoin may continue gaining value during the upcoming time.
Further, the EMA 50/200-day has recorded a Golden Cross in the Ripple price chart. This highlights a strong bullish sentiment for the 07th largest cryptocurrency in the market.
Will XRP Price Hit $1 This Week?
Maintaining the bullish sentiment could result in the Ripple price testing its $0.90 mark within hours. Further, if the bullish sentiment intensifies, this could push the XRP token toward its target price of $1 during the upcoming weekend.
Conversely, if a bearish trend reversal occurs, this could pull the price of this altcoin toward its support level of $0.80. Moreover, if the bulls struggle at that point, the XRP coin price could continue bleeding and retest its lower support level of $0.7450.
Curious to know when this altcoin will achieve the $1 mark? Read, CoinPedia’s XRP Price Prediction, and also subscribe to us to stay updated on the latest crypto-related news.
FAQs
It is highly speculated and uncertain for such a situation to occur.
If the bullish sentiment sustains, the Ripple price may achieve the $2 mark in the long-term perspective.
The XRP token may achieve the $1 mark this year.
