Ripple price has extended the weekend’s gains; trading within the overbought territory. According to CoinMarketCap, its trading volume has surged by 80.82% over the past 24 hours.
The three-session uptrend exhibited by the altcoin is comparable to that of the leading crypto – Bitcoin. BTC has risen by 9.41% since Saturday. In comparison, altcoins such as Cardano and Ethereum have surged by 5.11% and 9.28% respectively. Ripple appears to lead the pack with gains of 16.98%.
Ripple price prediction
Earlier in Monday’s session, XRP hit its highest level in two months. While it has since pulled back, it remains on the uptrend that commenced over the weekend.
Since Saturday, Ripple price has surged by about 16.98%. At the time of writing, it was up by 5.43% at 1.2857.
On a two-hour chart, it is trading above the 25 and 50-day exponential moving averages. At the same time, it has entered the overbought territory with an RSI of 80. Based on the technical indicators, I expect the cryptocurrency to remain above 1.1000, which has been a crucial level since early-April.
On the upside, Ripple price will likely face resistance at 1.3000 as the bulls gather enough momentum to retest September’s high of 1.4202. In the immediate term, the expected pullback has last week’s high of 1.2594 and the 25-day EMA of 1.2081 as viable support levels.