Ripple is quickly approaching its all-time high price against the US Dollar while also appreciating against Bitcoin, as XRP investors are finally reaping the rewards for their patience over the last few years.
XRP Price Analysis
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
On the USDT-Paired chart’s daily timeframe, it is evident that XRP’s price has been rallying almost vertically, breaking past several resistance levels.
As it is approaching its all-time high value, set in 2018, investors are hoping for a $5 Ripple in the coming months.
However, the RSI is showing a concerning overbought signal that could lead to a lengthy consolidation or correction, likely after a new record high is set.
The BTC Paired Chart
The XRP/BTC chart better demonstrates Ripple’s massive rise in value. It’s important to note that XRP is rising against Bitcoin, which has also been rallying.
This uptrend began following the breakout above the 200-day moving average and the long-term bearish trendline, but the 2800 SAT resistance level is currently preventing a further continuation.
The RSI shows a similar overbought signal on the BTC-paired chart, suggesting that a period of consolidation or correction will likely occur.
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Cryptocurrency charts by TradingView.
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https://cryptopotato.com/ripple-price-analysis-can-xrp-reach-5-in-the-following-months/
2024-12-08 16:40:47
