Why Is XRP Up Today?

The post Why Is XRP Up Today? appeared first on Coinpedia Fintech News

The Ripple price has displayed a strong bullish recovery overnight, resulting in its value reclaiming the $2.70 mark. Moreover, the SEC’s decision on XRP ETF approvals could result in the price of XRP achieving a new high this altcoin season.

With the rising optimism in the crypto space, will XRP push its price toward a new ATH this year? Furthermore, investors are curious with questions like “Will XRP reach $1000?” In this article, we have uncovered the market sentiments and possible short-term Ripple Price Analysis!

Ripple Price Records Increased Volatility!

The price of XRP token has jumped 6.84% in 24 hours with a trading volume of $5.331 billion, a change of -1.48%. Moreover, it has jumped 9.59% over the past week and has soared 29.95% this year, suggesting a long-term bullish action.

The Relative Strength Index (RSI) continues hovering above the neutral point in the daily time frame. This indicates an increase in the buying pressure for the altcoin in the crypto market.

On the other hand, the SMA indicator constantly supports the Ripple price chart, highlighting a positive outlook for the 03rd largest cryptocurrency in the market this week.

How High Will XRP Price Go?

Suppose, the market favors the bulls, in that case, the XRP price could retest its upper high of $3.00. Maintaining the price above that level could push the price toward its upper resistance level of $3.50 in the coming time.

On the flip side, if the bears regain momentum, this could pull the price toward its important support level of $2.50. Furthermore, if the bearish sentiment intensifies, this could result in it plunging toward its crucial support level of $2.00.

Are you one of many who are curious to understand the prospects of this altcoin achieving a new ATH this year? Read CoinPedia’s latest XRP Price Prediction today to explore the possibilities!

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