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XRP Price Targets $3 Amid Bullish Momentum and SEC Criticism
The post XRP Price Targets $3 Amid Bullish Momentum and SEC Criticism appeared on BitcoinEthereumNews.com. Ripple’s XRP has gained market focus as its price has surged parabolically. This comes amid criticism of the SEC actions by 18 US states. XRP price rose from $0.70 to $1.14 in a matter of days. It breached certain resistance levels that have propelled the overall crypto space into bullish territory. Some believe that this rally has the potential to be the start of even larger gains, and many have their sights set on the $3 to $5 range in the current supercycle. The rally occurs amidst increasing confidence in Ripple’s status within the crypto market, as regulatory clarity appears closer than ever. Ripple’s CEO has noted that before the suspension of the involvement of the SEC in crypto, XRP was the second-largest token in the market, which proves its relevance. This has also been attributed to other factors, such as better market sentiment. Anticipation of better conditions for cryptocurrencies following SEC Chair Gary Gensler’s possible exit could aid momentum. – Advertisement – XRP/USDT Chart Analysis: Consolidation After a Breakout Looking at the XRP/USDT daily chart below, the token is now trading at $1.1021. It saw this price after a slight correction of 1.04% upward movement. The recent movement has pushed XRP close to the upper Bollinger Bands at $1.14. It means that it might be overbought for the short term. The Relative Strength Index (RSI) at the moment is at 83.31. It is way past the overbought level, indicating a possible corrective phase as traders close out their positions and the bulls gear up for the next leg up. 1-day XRP trading chart | source TradingView However, even with the correction, the price is still in bullish territory for XRP. The $1.14 mark is now an immediate resistance level. A move above that will likely lead to $1.25 and possibly…
The post XRP Price Targets $3 Amid Bullish Momentum and SEC Criticism appeared on BitcoinEthereumNews.com.
Ripple’s XRP has gained market focus as its price has surged parabolically. This comes amid criticism of the SEC actions by 18 US states. XRP price rose from $0.70 to $1.14 in a matter of days. It breached certain resistance levels that have propelled the overall crypto space into bullish territory. Some believe that this rally has the potential to be the start of even larger gains, and many have their sights set on the $3 to $5 range in the current supercycle. The rally occurs amidst increasing confidence in Ripple’s status within the crypto market, as regulatory clarity appears closer than ever. Ripple’s CEO has noted that before the suspension of the involvement of the SEC in crypto, XRP was the second-largest token in the market, which proves its relevance. This has also been attributed to other factors, such as better market sentiment. Anticipation of better conditions for cryptocurrencies following SEC Chair Gary Gensler’s possible exit could aid momentum. – Advertisement – XRP/USDT Chart Analysis: Consolidation After a Breakout Looking at the XRP/USDT daily chart below, the token is now trading at $1.1021. It saw this price after a slight correction of 1.04% upward movement. The recent movement has pushed XRP close to the upper Bollinger Bands at $1.14. It means that it might be overbought for the short term. The Relative Strength Index (RSI) at the moment is at 83.31. It is way past the overbought level, indicating a possible corrective phase as traders close out their positions and the bulls gear up for the next leg up. 1-day XRP trading chart | source TradingView However, even with the correction, the price is still in bullish territory for XRP. The $1.14 mark is now an immediate resistance level. A move above that will likely lead to $1.25 and possibly…
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