Ever since Ripple CEO Brad Garkinghouse was announced to be the crypto advisor for Donald Trump, the XRP price gained momentum. Meanwhile, the spot ETF speculations are making huge rounds after the recent dinner meeting of the CEO and the new president of the US. With this, the XRP price is displaying significant strength even in times when Bitcoin & Ethereum are experiencing massive bearish pressure.
Yet another reason to be bullish on XRP is the recent collaboration of Chainlink & XRP with SWIFT testing XRP for cross-border payments. With this, the token appears to be at the foothills of a massive explosion. As per popular analysts and veterans, the XRP price is believed to mark fresh highs above $3 that may range to as high as $7. Currently, the price is consolidating within a bullish pennant and hence a breakout could trigger a huge bullish wave above $2.5.
The daily chart of XRP suggests a massive upswing is fast approaching as the bulls have halted the bearish trend, triggering a rebound. Although they continue to exert acute pressure, the technicals which are about to flip from bearish to bullish validate the start of a fresh upswing. The Ichimoku cloud demonstrates the current trend of the rally is about to flip to bullish as the conversion & base lines are about to undergo a bullish crossover.
On the other hand, the Bollinger bands are trading parallel to each other, suggesting a stable price action at the moment that may result in a massive price action. As the market sentiments, trade set up, and the technicals turn bullish, a rise above $2.6 seems to be imminent. Besides, in the long term, the weekly RSI is trying to validate a rebound and remain within the overbought zone. If this materialises, the price may trigger a fine bull run and form a new ATH somewhere between $3.5 and $5.
The XRP price has become one of the best-performing cryptos in the market, with over 300% rise in the past 90 days, which is the highest among all the other tokens within the top 10. Hence, the prospects of Ripple & XRP prices remain bullish, testing higher targets in the upcoming days.
