XRP price extended its resurgence to the third day in a row, hitting highs of $3.58 in the intraday session. The crypto coin is riding on the sentiment created by its recent rise to all-time highs, and the bulls are targeting the psychological barrier at $4.00. The momentum indicators call for further upside, with the daily RSI at 85 and the price near the upper Bollinger Band. Also, the trading volume rose by 44% in the last 24 hours, affirming bullish control and a likely continuation of the upside.
At its current level, XRP market capitalisation has risen to $211 billion-its highest ever. In addition, it has risen to the third position in CoinMarketCap ranking, flipping stablecoin tether (USDT). This has certainly caught the eyes of institutions, which could jump at the first opportunity to invest in XRP spot ETFs currently pending approval from Securities and Exchanger Commission (SEC).
Meanwhile, Coinanalyze data shows that XRP open interest trading on futures rose by 6.3% in the last 24 hours, signaling growing investor confidence in the coin. The current XRP price buzz has a strong presence in the social media space and a flurry of crypto legislations in the US dubbed “crypto week” has added to the upbeat sentiment.
XRP Price Prediction
XRP price has its pivot mark at $3.45 and the momentum calls for further upside. The coin will likely meet the first resistance at $3.60. An extended control by the buyers will go above that level and potentially test $3.65.
Conversely, going below $3.45 will shift the momentum to the downside. In that case, the first support is likely to be at $3.40. The upside narrative will be invalid if the price breaks below that level. In addition, an extended control by the sellers could send the coin lower and test the second support at $3.35.
