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- XRP price increased by over 10% within a week.
- The altcoin is currently positioned in a strong buy zone.
Following an extended downtrend, Ripple’s native cryptocurrency XRP has gained traction in the market and has been featured among the top gainers for more than three consecutive days, according to CoinMarketCap data.
The XRP price is experiencing a “bullish surge,” as the altcoin has traded for its sixth straight day in ‘green candles.’ Today, XRP’s price rose by more than 4%, currently trading at 0.467, reflecting an increase of over 10% in the past week. These fluctuations have solidified XRP’s status as one of the top three performing assets.
Moreover, the SEC vs Ripple case garnered attention on Tuesday, as Judge Torres denied the SEC’s request to seal the Hinman documents, which is advantageous for Ripple. This development resonated with both the market and the XRP community.
XRP Price Analysis
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The community remains keen on XRP’s advancement. Recent price movements of XRP have illustrated the interest of crypto investors in this digital currency, aiming to elevate the coin to new levels. To accomplish this, XRP must achieve a short-term breakthrough of the significant resistance level around the $0.5 price range.
After a day of trading within a range, XRP surged to a morning peak of $0.4673. In order to test the second major resistance level at $0.4728, XRP surpassed the first major resistance level at $0.4605 before pulling back to close the day at $0.45978.
At the time of this report, a mixed start to the day saw XRP rise approximately 4% to $0.4655. Additionally, XRP revisited the $0.47 mark for the first time in 19 days yesterday.
Ripple (XRP) Price Chart (Source: Tradingview)
The XRP price is positioned above the moving average, indicating a “bullish rally” for the cryptocurrency. According to Tradingview data, the altcoin is in a “strong buy” zone, and XRP has outperformed the leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) by 5%.
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